June 2024 Real Estate Market Update for Phelps County

June 2024 Real Estate Market Update for Phelps County
We love keeping you informed and educated about our local real estate market at Phelps County.
So what's the latest update this month? Let's dive in!
🔹 Median Sales Price
Up 4.3% year-over-year. Steady growth is a good sign for our market.
🔹 Average Sales Price
Reached almost $256,000 last month, a 5.7% increase year-over-year.
🔹 New Listings
60 new homes listed in the past month, holding steady compared to last year.
🔹 Homes for Sale
Total inventory is at 155 homes, unchanged year-over-year.
🔹 Closed Sales
Up nearly 16% with 51 homes sold last month.
🔹 Average Days on Market
Currently at 49 days, showing homes are selling at a good pace.
🔹 Month Supply
At 2.8 months, indicating a seller’s market. If no new homes are listed, we’d run out of inventory in under 3 months!
Overall, home prices and sales are on the rise, making Phelps County an active real estate market.
Whether you’re buying, selling, or just curious, we’re here to be your trusted resource.
Stay tuned to our pages to always get the latest news and community events around Mid-Missouri!