Twin City real estate….”Many potential buyers are simply not on the market during this time of year, as school-aged children settle into routines and the gainfully employed focus more on end-of-year goals and holiday planning over taking on a big move. But not all buyers are equal. Consider instead the first-time buyers with no children, relocated employees, investment buyers, bargain hunters and those with generally fewer ties to established routines. – Minneapolis Area Association of Realtors
In the Twin Cities region, for the week ending October 7:
• New Listings decreased 1.3% to 1,395
• Pending Sales increased 4.1% to 1,103
• Inventory decreased 16.6% to 12,378
For the month of September:
• Median Sales Price increased 7.3% to $246,800
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Homes For Sale decreased 16.7% to 2.5″ from the Minneapolis Area Association of Realtors.
Myra Says: The homes that are selling are priced right – buyers have no time for overpriced homes. Correct staging, marketing and pricing are the keys to a successful sale in this market. Buyers will find better pricing going into the winter – so time to start looking.
Click here for the full Twin Cities Market Update Report
The post Twin Cities Market Update October 16, 2017 appeared first on LuxHomesMN.
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