Is Billings, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Billings is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, Billings was a Seller's Market.

Key Takeaway

Billings is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Billings, MO

How much do homes in Billings, MO cost?

Median Sold Price

$285,000

$1,210/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$5,000(-1.7%)

Key Takeaway

Homes in Billings have sold for 1.7% less than they did a year ago.

Summary: The median home sold price in Billings was $285,000 in May 2024, down 1.7% from last year, and the median price per square foot was $1,210.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $435K$300K
-31.0%
2 $134.9K$292.4K
+116.8%
3 $250K$253.4K
+1.4%
4 $391K$439K
+12.3%
5+ $443K$990K
+123.5%

Summary: Billings housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31%, 2 bedroom homes increased by 116.8%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 123.5%.

Median Sold Price Compared To Nearby Cities

Billings
-1.7%
East Polk Township
-12.2%

Housing Supply in Billings, MO

How many homes are available in Billings, MO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
2124+14.3%

Summary: The Billings real estate market had 24 homes for sale in May 2024, a 14.3% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 32
-33.3%
2 12
+100.0%
3 1012
+20.0%
4 56
+20.0%
5+ 22
0.0%

Summary: The Billings housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 20%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
440.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Billings, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Billings in May 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for Billings, MO

How long does it take to sell a home in Billings, MO?

Average Sale Time

May 2023May 2024CHANGE
59 Days8 Days-86.4%

Summary: Homes in Billings had an average of 8 days on market in May 2024, down by 86.4% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Billings are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 4 homes were sold in Billings; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 10 Days Ago

Newest Listings in Billings, MO

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