Is O Fallon, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, O Fallon has remained a Seller's Market.
Key Takeaway
O Fallon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in O Fallon, MO
How much do homes in O Fallon, MO cost?
Median Sold Price
$344,832
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in O Fallon have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in O Fallon was $344,832 in March 2024, up 6.8% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $527.1K | N/A |
| 2 Bedrooms | $226K | $242.5K | +7.3% |
| 3 Bedrooms | $300K | $315.9K | +5.3% |
| 4 Bedrooms | $412.2K | $428.7K | +4.0% |
| 5+ Bedrooms | $505K | $460K | -8.9% |
Summary: O Fallon housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 5.3%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 8.9%.
Median Sold Price Compared To Nearby Cities
| O'Fallon | $319.3K | $348.4K | +9.1% |
| O Fallon | $323K | $344.8K | +6.8% |
| Lake Saint Louis Township | $337.5K | $330K | -2.2% |
Housing Supply in O Fallon, MO
How many homes are available in O Fallon, MO?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 222 | 246 | +10.8% |
Summary: The O Fallon real estate market had 246 homes for sale in March 2024, a 10.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 37 | 38 | +2.7% |
| 3 Bedrooms | 96 | 118 | +22.9% |
| 4 Bedrooms | 72 | 76 | +5.6% |
| 5+ Bedrooms | 17 | 14 | -17.6% |
Summary: The O Fallon housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 22.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 17.6%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 59 | 91 | +54.2% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in O Fallon, you could pay more than the asking price. 37.4% of homes here sold above asking price last month.
Summary: A total of 91 homes were sold or pending in O Fallon in March 2024, up by 54.2% month-over-month. Of the 91 sold homes, 33% were sold under asking, 30% were sold at asking, and 37% were sold over asking.
Days on Market for O Fallon, MO
How long does it take to sell a home in O Fallon, MO?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 29 Days | 23 Days | -22.0% |
Summary: Homes in O Fallon had an average of 23 days on market in Mar 2024, down by 22% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in O Fallon are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 91 homes were sold in O Fallon; 77% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.