Below, we will provide a summary of the Bolivar housing market conditions and key trends that occurred during June of 2023 according to Rocket Homes. If you’re considering buying or selling a home in Bolivar, this report will give you valuable insights into the current market dynamics.
Seller’s Market Prevails in Bolivar, MO
Bolivar, MO experienced a seller’s market in June of 2023, indicating a favorable environment for sellers. With limited housing inventory and strong buyer demand, sellers had the upper hand in negotiations.
Median Sold Price
The median sold price for homes in Bolivar during June 2023 was $221,050, with a price per square foot of $347. Compared to June 2022, this represents a significant increase of $31,800, or 16.8%. This upward trend indicates the rising value of properties in the area.
Number of Homes Sold
A total of 19 homes were sold in May 2023, and the number increased to 35 in June 2023. This surge in sales activity indicates a growing demand for homes in the Bolivar area.
Asking Price vs. Sold Price
In June 2023, 50% of homes in Bolivar were sold below their asking price, offering buyers an opportunity to secure favorable deals. Additionally, 24% of homes were sold at the asking price, while 26% were sold over the asking price. These statistics highlight the importance of working with knowledgeable real estate agents who can help negotiate the best possible terms for buyers and sellers.
Average Sale Time
The average sale time in Bolivar increased from 16 days in June 2022 to 52 days in June 2023. This change indicates a slight lengthening of the time it takes to sell a home. However, it’s important to note that the majority of homes (74%) were still sold within 30 days, demonstrating a relatively fast-paced market.
Get in Touch For a Full Review of the Bolivar Housing Market
June 2023 showcased a robust seller’s market in Bolivar, MO, with rising median sold prices and a limited housing inventory. Despite these conditions, buyers had the opportunity to secure favorable deals, with 50% of homes sold below their asking price. If you’re looking to navigate this dynamic market successfully, trust the expertise of Partin Real Estate and let our agents guide you through the process of buying or selling your next home in Bolivar. Take a look at the current houses for sell in and around Bolivar, MO and then get in touch!