Phelps and Pulaski August Market Update - Still Going Strong!
Posted by Abie Calinisan on Monday, August 8, 2022 at 5:58 PM
By Abie Calinisan / August 8, 2022
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Is our real estate market finally starting to cool off?
The real estate market is hot and it's not going anywhere.
Watch this video to learn more https://www.facebook.com/mattsmithrealestategroup/videos/1220530642110780
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This year, PULASKI COUNTY's average sales price grew 21% compared to 2021. In PHELPS COUNTY, the average sales price was up 12% in the same timeframe.
The numbers are very similar to where they were this time last year, and that means that despite what you see on mainstream media, the market is still very strong.
If you're a buyer, there's a lot to think about when it comes to buying a home.
You're probably hearing that interest rates are rising and that you should hold off on buying until the market crashes.
BUT HERE'S THE THING: Waiting to buy could cost you thousands of dollars!
 Experts in our industry project interest rates to go up again. And so right now, we're going to get better interest rates than if you wait.
As for home values?
 They've continued to increase over the next 5 years and those prices are still rising.
As an example, in Pulaski County, we are at 1.5 months of inventory right now—that's an extreme seller's market.
And it's still a great time to sell your home in Phelps County—it's very close to 2 months of inventory.
So both markets are still a seller's market!
If you want to take the next step in your real estate journey, we're here for you.
We've been ranked number one in our area for five plus years now, and we want to help you navigate through this normalizing market.
Watch this video to learn more https://www.facebook.com/mattsmithrealestategroup/videos/1220530642110780
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