Get the Skinny on Real Estate Trends in Your Area! March 2018
Rachel Fredrickson
Get the Skinny on Real Estate Trends in Your Area! February 2018
March 2018 numbers are in. April numbers will be out toward the end of May.
*Pending Sales decreased by 12.2% from 2017
*Closed Sales decreased by 10.3% from 2017
*The number of homes for sale decreased 26% from 2017
*This left the month supply of homes at 1.7 months~
*Prices increased 9.8% with the median sales price of $258,000
*Sellers netted 99.1% 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 looking and prices are expected to continue to rise throughout the spring market... With the mortgage rates increasing, buyers are qualifying for less. This makes it an ideal time for lower priced homes. If you are looking to move up and get 'more' home, NOW is an ideal time for you too.
If you are thinking about buying, now IS a good time for you too! Rates are still low!!! To some of you who saw rates in the lower 3's last year, you may be thinking, 'rates in the 4's are not low Rachel'.... BUT, to give you some perspective... the average rate from the 1970's to today is about 8%. So, we are at half the 50 year average! So, now is still a GREAT time to buy as well! Prices will continue to rise... Rates... who knows what tomorrow will bring... the federal government is predicting two more rate hikes this year. So, if you find something you like, and it fits your price point, buy now! If you know an area/neighborhood that you want to live in but there isn't anything on the market, reach out to me and I will use some 'outside the box' strategies and find you a house where you want to be.
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 Realtors Video here-
