Twin Cities Housing Market Analysis for October 4th, 2014
We’re still in recovery mode in this warm market. But the market euphoria is not as strong as it was in 2013. Inventory is up, as is new home construction. Last year I saw final sale prices coming in at an average of 97.5% of original asking price. This year that number is closer to 92%. Home prices have not risen as significantly as sellers thought they would.
That being said, this is still a hot market right now. Well priced homes are selling almost as soon as they are listed. Average market time is now hovering below 80 days. That’s blistering! If you see a property you like, be wise – but don’t dawdle. You could miss your opportunity in the frenzy.
If you are considering selling your home, please call us! We have buyers eager to buy. If you are considering a purchase, we encourage you to work with someone who understands the subtleties of this market.
Call me with any of your real estate needs: