June Market Update - Phelps and Pulaski
Posted by Abie Calinisan on Friday, July 1, 2022 at 3:19 PM By Abie Calinisan / July 1, 2022 Comment
It is important to be knowledgeable about the latest real estate market update if you are considering purchasing a home in Phelps and Pulaski.
We will provide you with accurate information so that you can make informed decisions about the local real estate market and how it will affect you.
Here's our June Market Update for Phelps and Pulaski.
INVENTORY LEVELS Year over Year
Inventory levels are important to pay attention to. Right now, there are 143 homes on the market in Pulaski County. That's actually less than the 159 homes that were on the market this time last year.
Mainstream media can make it seem like the real estate market is crashing, with inventory rising and selling becoming more difficult. However, it's important to look at your local market to get a better understanding of what's happening. In reality, there are fewer homes available and now is a great time to sell. As a seller, it's crucial to understand the facts and not let media scare you away from putting your home on the market.
SALES VOLUME May vs June
The number of homes sold last month was higher than the month before, so not only is there less inventory, but more homes are selling. This tells us that if I'm a seller, it's still a great time to put my home on the market!
NUMBER OF LISTING Month over Month
The number of new listings has decreased slightly from last month. However, home values are still increasing due to the high demand. Now is still a great time to sell your home!
INVENTORY LEVELS Year over Year
Inventory levels in Phelps county have decreased year over year, with 149 homes on the market last year compared to 124 this year. However, this doesn't mean that the real estate market is slowing down - in fact, more homes have sold in Phelps county in the past two months than ever before. So if you're thinking of buying a home, now is still a great time to do so!
HOME VALUES Month over Month
Home values have increased month over month, so your home has likely gone up in value this month compared to last month. On average, sales prices have increased by $2,000 in the last month, which is a significant amount of money in a 30-day period. Experts predict over the next five years that home values are still going to appreciate.
The market is not crashing! We're currently experiencing a PERIOD OF NORMALIZATION.
Homes may stay on the market for longer than usual, and there may be more back-and-forth negotiation. But there's no need to panic – partner with a trusted real estate team who are ahead of the curve.
It's more important than ever to choose the right partner when buying or selling a home. At Matt Smith Real Estate Group, we have a team of experts who can help you navigate through this market. We are the #1 real estate team in the state of Missouri and ranked #8 in the nation!
We would love an opportunity to earn your business!
Click the link here for your free home consultation. https://www.mattsmithrealestategroup.com/sellers/free-market-analysis/
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