Get the Skinny on Real Estate Trends in Your Area!
August 2016
The THEME of the year continues... Inventory, Inventory, Inventory!!! There is a lack of homes on the market for sale. Seller's hesitate to put their house on the market and make a move as they are afraid that they will not be able to find their next home...
The statistics for July have been crunched~
*The number of homes that sold was down 5.8% from July 2015
*The number of pending sales was down 3.1% from July 2015
*The numb...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...
