The housing market in O'Fallon continues to see strong price appreciation, with values up 17.1% compared to last year. Home prices have increased 7.6% in the past month alone. At the current pace, all available homes in O'Fallon would sell out in just 1.0 months, indicating a continued supply shortage. Homes are taking about 22 days to sell, which is 5 days longer than this time last year. A significant 33.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 26.3% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the O'Fallon market with the affordability index at 24.1. Based on current market indicators, home prices in O'Fallon are projected to decrease by approximately 7.0% over the next month.