I wanted to take a moment and write you a message in regards to our local real estate market. Amidst the claims of a “hot” or “sellers” market by many folks I want my friends and clients to have an accurate knowledge of what is going on in our local real estate market
Question: Is it a seller market? Appropriate answer: In general, yes, homes that are in good to excellent, move-in ready condition, are in short supply and we are seeing many highest and best situations on these homes. However, older homes requiring updates and that have condition issues are not seeing the price improvements that the updated/modern homes are.
Here is an example/generalization of what I am seeing…A house built in 2012 that was bought in 2012 most likely will have increased 10-15% in value in our area. A house built in 1979 that was bought in 2012 may have only increased 3-8% in value. Granted, there are many factors, this example is based on the buyer moving in and simply maintaining the property to present day.
Thank you so much for taking the time to visit our page and if you have any questions or would like more detailed information about the current market do not hesitate to contact me!
417-350-8333
We want to be your “go to” agents!
Best regards!
J.R.