As we close out the year, it’s a wonderful time to reflect on the real estate trends that have shaped Phelps County in 2024. It’s been an exciting year, and I’m eager to share these insights, with a special focus on our beloved Rolla and St. James.
The Pulse of Our Market
This year has been bustling with activity! Phelps County saw a total of 482 homes change hands. Rolla led with a substantial 340 homes sold, demonstrating its central role in our market, while St. James also showed strong activity with 101 homes sold. It’s heartwarming to see so many new beginnings in our community.
Trends in Pricing
Across Phelps County, the average sales price was a robust $245,926. Rolla saw a slightly higher average of $256,372, underlining its appeal in our local market, while St. James maintained a competitive stance with an average sales price of $252,004. These figures highlight the solid value and investment potential in our region.
Delving Deeper
The median sales price in Rolla reached $225,000, with St. James offering more accessible entry points at $210,000. These figures help paint a picture of the diverse market dynamics within our county.
Price per square foot also tells an important part of our market story. Phelps County had a median price of $141 per square foot, with Rolla at $147 and St. James close behind at $140. This metric is crucial for understanding the underlying value in different areas.
Market Dynamics
Properties in Phelps County had a median of 40 days on the market, with Rolla properties moving slightly quicker at 38 days, and St. James aligning with the county average. This brisk pace underscores a healthy demand and vibrant market conditions.
Our list-to-sale price ratio remained tight and impressive—99.1% across Phelps County, 99.3% in Rolla, and 99.5% in St. James. This is a testament to the accuracy of pricing and the efficiency of our local market.
A Decade of Rolla’s Growth
Looking back over the last ten years, Rolla’s real estate market has experienced significant growth—from a median sale price of $123,150 in 2015 to $225,000 in 2024. This steady increase is a clear indicator of Rolla’s growing appeal and vitality.
In Conclusion
Reflecting on 2024, I am filled with appreciation for our dynamic market and optimism for the future. Phelps County, especially Rolla and St. James, continues to be a vibrant area for real estate. Whether you’re looking to buy, sell, or just stay informed, I’m here to provide the insights and support you need.
Looking forward to a prosperous 2025, I am here to assist with any real estate questions or needs you might have. Let’s make it another great year together!