These Latest Trends Could Be Affecting Your Homes Value In Phelps County!
As Winter Draws Near, Will Your Home Investment Weather the Seasonal Market Shift?❄️
It's time for your Phelps County local market update!
We're all about giving you the facts and figures - no drama, just data.
Let's dive into what's happening in your real estate market. 📊
1️⃣ Median Sales Price
First up, we look at the median sales price. This is a great indicator of the market's health. The median sales price has risen by almost 2% compared to last year.
Yes, homes are selling for more! 💵
2️⃣ No. of New Listings
This tells us about the fresh inventory hitting the market. Last year, we had 37 new listings, but this year, it's 30. So, there are fewer new homes up for sale. 🏠
This is about the total number of homes available in Phelps County. Last year, we had 125 homes on the market; now, we're down to 100.
It means less inventory for buyers and more competition if you're selling. 📉
4️⃣ Closed Sales
Closed sales are crucial - they show what's actually selling.
Last year, 35 homes were sold around this time, but this year, it's 27. A slight decrease, but still significant. 📝
5️⃣ Months Supply
This stat is vital. It tells us about market balance - is it favoring buyers, sellers, or is it balanced?
A balanced market is typically at a 6-month supply... but we're at 2.4 months.
This means if no new homes come on the market, we'll run out of inventory in just 2.4 months! 😲
What does this all mean?
🔍 If you're a seller, this could be the perfect time to sell for top dollar and quickly too!
🔍 If you're a buyer, be prepared for competition and act fast when you find something you like.
If you're wondering if now is the right time to buy or sell, you don't have to go at it alone! Our team is here for you.
We are committed to our community and clients by ensuring a smooth and successful transaction.
If you're ready to see if now is the right time for you to buy or sell click the link in the comments to get the process started.
We have agents on standby ready to support you and answer your questions!