Market Insights: Will 2018 Provide an Advantage for Sellers?
As 2017 draws to an end, many folks are probably wondering what the real estate market will have in store for 2018. In order to get an idea of what 2018 may hold for us, we must first look back on 2017 and the recent market insights. So Team Andy Gibson is taking a look at home prices, sales, housing inventory, and the ever-changing mortgage rates. Take a look: Home Prices Nationally, the median home price decreased to $247,000 in October, which was down 0.2 percent from September and up 5.5 percent from October of last year. The median home price has increased by approximately $12,900 in the past year alone. For the Lake of the Ozarks region, the median home price increased to $169,000 in November, which is up 9.03% from October, and up 7.7% from November of last year. The current listing price average for the Lake region is at $270,366. Home Sales The National Association of REALTORS® reported home sales at a seasonally adjusted annual rate of approximately 5.5 million ...