Get the Skinny on Real Estate Trends in Your Area! February 2017

Get the Skinny on Real Estate Trends in Your Area! February 2017

January 2017 is over and the first month of the year statistics have been compiled~ 

When January 2017 was compared to January 2016, this is what was found:

*Pending Sales ~ Increased 4.3%

*Closed Sales ~ Decreased 3.2%

*Inventory Levels ~ Decreased 25.4% - Leaving an average of 1.6 month supply of homes on the market.

*Median Sales Price - Increased 4.7%

*% or List Price ~ Increased .9 to 95.9%

I've said it before and I'm saying it again now~ The Law of Supply and Demand is present in today's Real Estate Market! As long as the number of homes for sale remains low, the prices will continue to increase. There is one unknown factor, the increasing interest rates. They may impact the Law of Supply and Demand in 2017. Time will tell. It's still a FABULOUS time to Sell your house! Please let me know how I can help. 

To find our what your home is worth, click here. 

To watch the Full Minneapolis Area Association of Realtors 2 minute video, click below.