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 1 Day Ago

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