Get the Skinny on Real Estate Trends in Your Area! November 2017
Rachel Fredrickson
Get the Skinny on Real Estate Trends in Your Area! November 2017
October 2017 numbers are in!
*Pending Sales increased by 3.9% from 2016
*Closed Sales actually increased by .3% from 2016
*The number of homes for sale DROPPED significantly by 18% from 2016
*This left the month supply of homes at 2.2 months~
*Prices increased 6.1% with the median sales price of $244,000
*Sellers netted 97.7% 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 here... whether you want it to or not... but, prices are expected to continue to rise into these 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... the average rate from the 1970's to today is about 8%. So, yes, now is a GREAT time to buyer as well! Prices will continue to rise... Rates... who knows what tomorrow will bring... If you find something you like, and it fits your price point, buy now!
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 :)
