Is the Housing Market Going to Crash Again?

There is a lot of talk about another Real Estate Market 'Crash'... There is a lot of wonder about should I buy now or wait a bit so I can buy low when the market 'crashes' again.... There is a lot of people asking what they should do..... 

As I contemplate my answers in front of my 'Crystal Ball'... haha! I wish I had that Crystal Ball!!!! I don't... But I do have data... from then and from now... and data is a GREAT alternative to that 'Crystal Ba...

Get the Skinny on Real Estate Trends in Your Area!

April 2017

 

March numbers are in!

*Pending Sales decreased by 3% from 2016

*Closed Sales actually increased by 8.3% from 2016

*The number of homes for sale DROPPED significantly by 19.9% from 2016

*This left the month supply of homes at 2 months~ (a slight increase from the 1.8 month supply when February closed) 

*Prices increased 7% with the median sales price as $237,500

*Sellers netted 98.1% of their asking price.

 

Interest Ra...

Twin Cities Home Prices Reach an ALL TIME HIGH!!! 

The record for the Median Sales Price in the Twin Cities was previously $238,000. Ten years later, this record is no longer. June 2016 set a new median sales price record at $242,000. 

Low inventory has helped to drive up the prices on homes. With not as many homes to pick from, sellers are selling at 98.7% of list price and in less time! The average days on market is now 55 days. Homes haven't sold this quickly since 2007! Traditional Sellers...

Get the Skinny on Real Estate Trends in Your Area!

June 2016

The Statistics for May have been crunched and analyzed by the Minneapolis Association of Realtors. There are no real surprises...

May 2016 as compared to May 2015 showed the following:

1) Closed sales were up 5.3%

2) Pending sales were up 9.9%

3) The # of Homes for Sale were down 20.6% ~ leaving a 2.7 month supply of homes on the market. (A healthy buyer/seller market has a 5-6 months supply of homes for sale.)

4) Sellers are n...

Frustrated with Low Number of Homes for Sale in the Real Estate Market? 

 

Are you trying to find a house to make your home? Are you frustrated with the choices and being in multiple offer situations? If this is you, there are options to consider.

 

1) New Construction IS an option... Find a builder that can build you the home you are looking for! It is important to align yourself with the right builder! Some builders will not allow you to make any changes to an existing floor plan and wil...

Get the Skinny on Real Estate Trends in Your Area! April 2016

  

The common theme being spoken in Real Estate right now is LACK of HOMES for SALE!!! The statistics for March have been gathered and should not be a surprise to those that have been following the Real Estate Trends in the Twin Cities!

From March 2015 to March 2016...

The # of homes for sale is down 20.6%!!!

The month supply of homes for sale is 2.5

The prices are UP 5.7% with a median sales price of $222,000

Mortgage Rates...

Get the Skinny on Real Estate Trends in Your Area! March 2016

The Statistics for February are in... A lack of homes for sale in the Market is the theme... 

The number of homes on the market for sale is down 19.4% from February 2015! 

The month supply of inventory is still low at 2.3 months!

The Median Sales price rose 3.7% from February 2015!

Sellers are netting 95.3% of their list price!

SUPPLY AND DEMAND!!! Lack of choices + Buyers who want a home = Multiple offer situations that drive u...