Get the Skinny on Real Estate Trends in Your Area! September 2017
Rachel Fredrickson
Get the Skinny on Real Estate Trends in Your Area! September 2017
August 2017 numbers are in!
*Pending Sales decreased by 2.6% from 2016
*Closed Sales actually decreased by 1.4% from 2016
*The number of homes for sale DROPPED significantly by 16.7% from 2016
*This left the month supply of homes at 2.5 months~ (Down 16.7%)
*Prices increased 6.8% with the median sales price of $252,000
*Sellers netted 98.5% of their asking price.
For all the numbers and statistics, the full Minneapolis Area Association of Realtors Video is below.
WHAT DOES ALL OF THIS MEAN TO YOU???
If you are thinking about selling, now IS a good time! The buyers are still there. Yes, the cold weather is coming... (even though it may not feel like it after the weekend we had), but, we do live in MN and we know it will come~ whether you want it to or not... but, prices are expected to continue to rise into those cold temperatures... buyers are expected to continue to shop for 'THEIR' dream home as the rates are still low!
If you are thinking about buying, now IS a good time too! As I just stated, rates are still low!!! To some of you who saw rates in the lower 3's last year, you may be thinking, that 4 is not low Rachel.... BUT, to give you some perspective... rates used to be in the 5's, 6's, 6's, 8's, 9's, etc... I spoke to someone at a closing recently who paid 21% on their first mortgage! Can you EVEN IMAGINE??? So, yes, now is a GREAT time to buyer as well!
I would love to help you sell! I would love to help you buy! Connect with me via phone, text, email, fb, linked in... whatever your prefer :)
FULL MINNEAPOLIS AREA ASSOCIATION OF REALTOR VIDEO HERE...
