Top Real Estate Agents in Missouri

Download the Rankings

Download the Rankings

2023 Missouri Housing Market Summary

Missouri started 2023 with a total of 8,639 single-family homes on the market, with a median home price of $260,000 and an average price per square foot of $162. By the end of the year, inventory had increased to 10,328 homes on the market (+19%), with a median home price of $279,900 (+7%) and an average price per square foot of $178 (+9%).

At the start of 2023, the median days on market (DOM) was 63 days – by the end of the year, median DOM had increased to 70 days.

Missouri started the year with 34% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 33% of Missouri homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Missouri started 2023 as a strong seller’s market, with an MAI score of 47; by the end of the year, the MAI had dropped to 36 – a slight seller’s advantage.

This market summary is powered by Altos Research – click here to run a free report for your area.

Frequently Asked Questions