Is Spanish Lake, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Spanish Lake has remained a Seller's Market.
Key Takeaway
Spanish Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spanish Lake, MO
How much do homes in Spanish Lake, MO cost?
Median Sold Price
$107,000
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Spanish Lake have sold for 16.1% less than they did a year ago.
Summary: The median home sold price in Spanish Lake was $107,000 in April 2024, down 16.1% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $39.7K | $129K | +224.5% |
| 2 Bedrooms | $118.4K | $73.7K | -37.7% |
| 3 Bedrooms | $122.5K | $104.9K | -14.4% |
| 4 Bedrooms | $170K | $143.5K | -15.6% |
| 5+ Bedrooms | $156.6K | $147.5K | -5.8% |
Summary: Spanish Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 224.5%, 2 bedroom homes decreased by 37.7%, 3 bedroom homes decreased by 14.4%, 4 bedroom homes decreased by 15.6%, and 5+ bedroom homes decreased by 5.8%.
Median Sold Price Compared To Nearby Neighborhoods
| North City | $45K | $47K | +4.4% |
| North County | $137.2K | $121.2K | -11.7% |
| Spanish Lake | $127.5K | $107K | -16.1% |
Housing Supply in Spanish Lake, MO
How many homes are available in Spanish Lake, MO?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 69 | 71 | +2.9% |
Summary: The Spanish Lake real estate market had 71 homes for sale in April 2024, a 2.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 49 | 48 | -2.0% |
| 4 Bedrooms | 11 | 13 | +18.2% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Spanish Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 2%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 16 | 20 | +25.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spanish Lake, you may be able to get a good deal. 35% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in Spanish Lake in April 2024, up by 25.0% month-over-month. Of the 20 sold homes, 35% were sold under asking, 30% were sold at asking, and 35% were sold over asking.
Days on Market for Spanish Lake, MO
How long does it take to sell a home in Spanish Lake, MO?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 32 Days | -27.1% |
Summary: Homes in Spanish Lake had an average of 32 days on market in Apr 2024, down by 27.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spanish Lake are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 20 homes were sold in Spanish Lake; 55% of homes were sold within 30 days, 35% 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.