Petersburg has bucked the trend of declines for the last 6 months of 2022 across the region. As buyers flee to affordability, markets with median home values below $200,000 look increasingly appealing. Pair this with recent investments in Petersburg to remove the old Ramada Inn, and you have a market with increasing demand. Days on market have shown little increase while home values increased into the later portion of 2022. Larger homes saw higher levels of increase, while Sale:List price ratios remained historically high.
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