The Twin Cities Housing April 2018 Snapshot
I’m not going to lie to you; housing inventory is at a new all-time low. However, we do have a reason for optimism as new listing numbers are improving. Let’s also keep in mind that the early part of April felt more like January this year, with significant snowfall and low temperatures which may have held some potential sellers in winter hibernation mode. Still, sellers and builders are seeing a continued strong economy and are encouraged by a market poised to bestow significant financial gains.
For buyers, this market is still certainly challenging. Home values continue to rise while days on the market are fewer. The median sale price for April was $266,000 up 8.6 percent and days on the market fell 10.2 percent compared to April of last year which drives home the fact that buyers do not have the luxury of dawdling when it comes to offers. Additionally, buyers now have rising interest rates to contend with as well.
Twin Cities Economy and Housing Market is Strong
Sell Your Home When The Time Is Right For You
It’s no surprise that many people advocate that the best time to sell a home is in the Spring. Part of the reason this theory has evolved is that families want to be established in their new homes by the beginning of the school year in September. While this does make sense for families with children, when it comes to when to put your home on the market there are no one-size fits all scenarios.
Even though Spring may be considered prime time for home sales by many in the industry, there is no perfect time for everyone. Every situation is different, and when you are personally ready to sell, that becomes the best season for you. However, there is one piece of home-selling wisdom that is always true no matter what time of year you sell.
Can you guess that one sliver of home-selling wisdom? It’s the preparation of your home to look its best in winter, spring, summer or fall. Making an outstanding first impression on buyers will determine how quickly you sell and how high a price you obtain. A home that is move-in ready will face a cleaner offer with fewer if any contingencies. Even in this strong seller’s market, we find ourselves in right now, the condition and appearance of your home do matter.
It makes the most sense to take the time to get your home in tip-top shape for the fussiest of fussy buyers. If you think your...
2228 Kings Valley Rd E, Golden Valley, MN 55427
3 Bedrooms, 3 Baths, 1690 square feet offered at $224,900
Open House Saturday, May 5th 12:30 to 2:00 PM
Open House Sunday, May 6th 12:30 to 2:30 PM
If you have been looking for an updated and well-appointed townhome in Golden Valley for less than $250,000 you know they are hard to find. This end unit has been renovated from top to bottom and has all the features buyers are looking for and then some.
The floorplan is open and filled with light. The design and flow of the space were well designed with the intention of providing an abundance of storage and living areas to accommodate the individual needs of your family.
The higher-end kitchen renovation features an abundance of cabinets, work space, beautiful ceramic tile backsplash, stainless appliances and a breakfast...
The Twin Cities Housing Market Snapshot
Many consider March to be the kick-off month for the busiest Real Estate season, spring. The market experienced a slight cooling with pending and closed sales both down. Interest rates have climbed and been hovering around 4.5% which is the highest they have been since 2013. Buyers may be taking a breath, and holding back again to re-evaluate and rethink their strategy. They may be considering the options of paying more each month or settling for less house.
Still, days on the market continue to decline, homes are still being sold at asking price or above, and the median sale price up 9.8% over last year. Inventory of homes, however, continues to shrink. Inventory declined 26.1%. Sellers continue to play it coy with new listings also down 17.5%. These numbers seem to indicate that the slowdown in sales is more the result of low supply rather than a lack of enthusiasm on the demand side of the equation.