Is Palmyra, MO 63461 a buyer’s or seller’s market?
Palmyra is a seller’s market. With about 1.9 months of supply and 18% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 42% of U.S. ZIP codes, and #174 of 263 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending August 31, 2026. See the breakdown
The Palmyra housing market right now
In the three months ending August 31, 2026, 18% of homes in Palmyra, MO 63461 sold above their list price, the typical home went under contract in 43 days and there were 1.9 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 17 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (16% then), homes sold faster (51 days then) and the median sale price rose 33% to $299,770. Overall, Palmyra is more competitive than a year ago, so tougher for buyers.
On our competition score, Palmyra ranks #174 of 263 MO ZIP codes with enough sales (score 43 out of 100).
Nearby, buyers who want less competition could look at Maywood 63454 (0% sold over asking) or Monroe City 63456 (10% sold over asking).
Run the numbers for 63461
Nearby markets
Hannibal 63401Seller’s market $116 /sq ftMaywood 63454 $226 /sq ftMonroe City 63456Seller’s market $116 /sq ftTaylor 63471 — /sq ft Browse all markets →Towns like Palmyra nearby
Find towns like Palmyra in other states →Where Palmyra is
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Questions about Palmyra real estate
Is Palmyra a buyer’s or seller’s market?
A seller’s market: there were 1.9 months of supply in Palmyra, MO 63461 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Palmyra?
The typical home went under contract in 43 days in the latest three months.
Do homes in Palmyra sell over asking?
18% of homes sold above their original list price, and the typical sale closed at 95.8% of the list price.
What are property taxes in Palmyra?
About 0.82% of a home’s value a year in Marion County, or roughly $3,280 on a $400,000 home.
What is the median home price in Palmyra?
The median sale price was $299,770 in the three months ending August 31, 2026, about $124 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology