Gurley's real estate market is experiencing a price correction, with values down 43.3% from last year. The median home price has fallen to $255,000, a significant 43.3% decrease year-over-year. With 7 active listings, inventory is 133% higher than seasonal norms. Homes are now taking an average of 22 days to sell, significantly longer than the 5 days typical for this market. A significant 28.6% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Only 0.0% of properties sold above asking price, giving buyers more negotiating power. Affordability remains a significant challenge in the Gurley market with the affordability index at 3100.3. Based on current market indicators, home prices in Gurley are projected to increase by approximately 4.1% over the next month.
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