Is O Fallon, MO a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing O Fallon is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, O Fallon has remained a Seller's Market.

Key Takeaway

O Fallon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in O Fallon, MO

How much do homes in O Fallon, MO cost?

Median Sold Price

$347,865

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$21,805(+6.7%)

Key Takeaway

Homes in O Fallon have sold for 6.7% more than they did a year ago.

Summary: The median home sold price in O Fallon was $347,865 in May 2024, up 6.7% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $527.1K-
N/A
2 $230.5K$245.1K
+6.3%
3 $300K$321.7K
+7.3%
4 $415K$430K
+3.6%
5+ $505K$507.5K
0.5%

Summary: O Fallon 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 increased by 6.3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 0.5%.

Median Sold Price Compared To Nearby Cities

O'Fallon
+8.0%
O Fallon
+6.7%
Lake Saint Louis Township
+1.7%
Saint Paul
-11.0%

Housing Supply in O Fallon, MO

How many homes are available in O Fallon, MO?

Number of Homes For Sale

Apr 2024May 2024CHANGE
262288+9.9%

Summary: The O Fallon real estate market had 288 homes for sale in May 2024, a 9.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 4345
+4.7%
3 124130
+4.8%
4 8297
+18.3%
5+ 1316
+23.1%

Summary: The O Fallon 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 increased by 4.7%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes increased by 23.1%.

Number of Homes Sold

Apr 2024May 2024CHANGE
9290-2.2%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

17 Homes Were Sold
At Asking

47 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in O Fallon, you could pay more than the asking price. 52.2% of homes here sold above asking price last month.

Summary: A total of 90 homes were sold or pending in O Fallon in May 2024, down by 2.2% month-over-month. Of the 90 sold homes, 29% were sold under asking, 19% were sold at asking, and 52% were sold over asking.

Days on Market for O Fallon, MO

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

Average Sale Time

May 2023May 2024CHANGE
22 Days23 Days+4.3%

Summary: Homes in O Fallon had an average of 23 days on market in May 2024, up by 4.3% compared to last year.

Breakdown of Home Sale Times

70 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 90 homes were sold in O Fallon; 78% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 8% 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 1 Day Ago

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MLS Disclaimers and Copyright

Based on information from Mid America Regional Information System for the period 06/01/2022 - 06/01/2024

IDX Listings courtesy of Mid America Regional Information System as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX information is provided exclusively for consumers personal non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time. MLS GRID may, at its discretion, require use of other disclaimers as necessary to protect Member Participant, and/or their MLS from liability.

Listings courtesy of MARIS MLS as distributed by MLS GRID. Copyright © 2024 Mid America Regional Information System (MARIS). All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/1/2024, 9:23:31 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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