Is Summit Township, MO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Summit Township has remained a Seller's Market.
Key Takeaway
Summit Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit Township, MO
How much do homes in Summit Township, MO cost?
Median Sold Price
$272,500
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Summit Township have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in Summit Township was $272,500 in May 2024, down 1.8% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $180K | -18.2% |
| 3 Bedrooms | $240K | $269.9K | +12.5% |
| 4 Bedrooms | $335K | $480K | +43.3% |
| 5+ Bedrooms | $400.8K | $380K | -5.2% |
Summary: Summit Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18.2%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 43.3%, and 5+ bedroom homes decreased by 5.2%.
Median Sold Price Compared To Nearby Cities
| Cedar Township | $217.7K | $300.9K | +38.2% |
| Jefferson Township | $208K | $219K | +5.3% |
| Jefferson City | $209.9K | $219K | +4.3% |
| Summit Township | $277.5K | $272.5K | -1.8% |
| Holts Summit | $281K | $275K | -2.1% |
Housing Supply in Summit Township, MO
How many homes are available in Summit Township, MO?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Summary: The Summit Township real estate market had 20 homes for sale in May 2024, a 13.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 16 | 16 | 0.0% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Summit Township housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Summit Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Summit Township in May 2024, up by 133.3% month-over-month. Of the 3 sold homes, 0% were sold under asking, 67% were sold at asking, and 33% were sold over asking.
Days on Market for Summit Township, MO
How long does it take to sell a home in Summit Township, MO?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 24 Days | +23.9% |
Summary: Homes in Summit Township had an average of 24 days on market in May 2024, up by 23.9% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Summit Township; 71% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.