Missouri REALTORS® is pleased to share with you a monthly statistics report highlighting the Missouri real estate market for the month of August.In August, Missouri REALTORS® sold 9,623 residential properties. This was a 9.3% increase compared to August 2020. Of those sales, the average residential property sold for $262,780. Compared to the average sale price of $238,646 in August 2020, this was a 10.1% increase. The median residential sale price also grew substantially, from $197,500 in August 2020 to $225,000 in August 2021. This is a 13.9% increase.In terms of dollar volume, Missouri REALTORS® saw an increase of 20.4%. Over 2.5 billion dollars in August of this year was generated compared to 2.1 billion dollars for the same time last year.From a national perspective, REALTORS® across the United States experienced similar trends. According to the August 2021 Monthly Housing Market Trends Report, “The inventory of homes actively for sale in August decreased by 25.8% over the past year, a lower rate of decline compared to the 33.5% drop in July. A deceleration in the decline of inventory means the market is heading in an encouraging direction, but active inventory still remains historically low.”Additionally, interest rates in August continue to remain historically low. According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage was 2.84 percent, down from 2.87 percent in July. By comparison, the interest rate in August of last year was 2.94 percent.Visit Market Statistics to view a full report of the data presented, including additional resources and information.