There is one thing I can be sure of in the Real Estate world and that is The Real Estate Market is constantly changing. Amy, Jeff and I feel knowledge is power. Therefore, we are providing you the most current market dynamics for Greene, Webster and Christian Counties.
We are looking at January 2018 vs January 2019.
Homes in January 2018 went on the market for an average of $169,500 list price.
These homes went under contract/pending for $150,000 and sold for $150,100 on average.
Fast forward to January 2019. Homes went on the market in January 2019 for an average $189,900. This is a $20,400 increase in listing price.
Homes in January 2019 went under contract/pending at $159,900, an increase of $9,900 year over year.
Here is where it gets interesting. The average sold price in Greene, Webster and Christian Counties in January 2019 was $149,998! Yes, you read that correctly. Homes went on the market for $20,400 more than they did the previous year, went under contract for $9,900 more than they did the previous year, yet they sold for less than the previous year.
What does all this mean for you? This means we are seeing a shift in the market and homes prices are falling slightly. We are anticipating a 2%-3% drop in home values by the end of the year. 2-3% isn't that big of a deal, right? Wrong. If our average sales price is $150,000, by the end of the year with a 3% drop in home values, the $150,000 home is now a $145,000 home.
If you are thinking about selling this year, now is the time to list your house in order to get top dollar for your property.