As an informed consumer, before you buy or sell a home you might want to investigate the market conditions.
According to the National Association of Realtors the median price of a home, $217300, was up 4.9% in 2014 from 2013. How does that compare to our real estate market in Joplin and the surrounding area? The Ozark Gateway Association of Realtors reported that in December of 2013 a median price home in our area was $83,000, but this December the median price is now $90,000. That is almost a 9% increase. So while the median home price in Joplin is lower than the national price, our housing market is also on the rise.
Great news for home sellers, but don’t worry if you are looking to buy because the news is good there also.
Market Trends reports that this will be a great year for home buyers with more inventory expected and continued low interest rates. They even think that the lower gas prices will have a positive effect on the housing market.
On the local level, we still have lots of JHAP funding available. Kristy Baugh at the JHAP office reported that we still have close to $6 million in JHAP funds available!
Sounds like a happy new for everyone!
If you want to learn more about what your house is worth, find out more about buying a house or get more information about JHAP, just give me a call, 417-825-0142.
Thanks to everyone who helped to make my 2013 a great year and best wishes in 2014.