The housing market in Missouri picked up pace in May, as more homes were sold, prices increased and more properties became available in the month, according to the Missouri Realtor’s market statistics report.
Closed sales rose 7.3% from April to May, reaching 7,223 homes, though it was still down 1.2% from May 2025. Missouri has so far logged 29,469 closed sales this year, up 6.5% from the same period in 2025.
The median sales price hit $299,900 in May, up 7.1% from both April and a year earlier, while the average sales price climbed to $354,343, a 4.5% monthly increase. Year to date, the median sales price stands at $279,900, up 5.6% from 2025 and 12% from 2024.
Homes are also selling faster, as the average time on market fell to 41 days, down 14.6% from April and 18% from May 2025. Pending sales dipped 5.6% from April to 6,885, though that was still 2.2% higher than a year ago. Monthly dollar volume across the state reached about $2.56 billion, up 12.2% from April.
Meanwhile, the number of homes available for sale rose from 14,236 in April to 14,590 in May.
The sales growth came despite the mortgage rates remaining elevated in May. For a 30-year fixed-rate mortgage, the average rate in May was 6.44%, according to Freddie Mac. Chris DeGuentz, president of the Home Builders Association of St. Louis and Eastern Missouri, said buyers are getting used to current interest rates, and that’s why sales are going up.
“We’ve seen sales continue to warm up,” DeGuentz said. “I think everyone is optimistic, and there are a lot of people that have been waiting – the demand is still high, and that is leading to an increase in sales.”
He also described the current sales as a normal seasonal high point rather than a sign of overheating.
“April, May, June is an active selling time,” DeGuentz said. “I think the data may dip as you get into July and August, and then it will increase again. I wouldn't be alarmed if there was another dip.”
