As many of you have probably noticed by this point, houses aren’t staying on the market for very long.
Buyers are continuing to stay motivated in this fast-paced market, especially when there are 17.3% fewer homes on the market compared to the same time last year. While the inventory remains low, prices are increasing at a steady rate.
Housing prices have now risen for the last 63 consecutive months, and show no sign of slowing down the trend.
You’re probably asking, “How is this going to effect me?”
Well, it’s vastly different for buyers and sellers.
If you’ve been considering selling your home, now is your time to shine. Over half of the homes sold last year closed with a sale price over their actual market value.
Your realtor can help you establish the best listing price on the front end so you get the most money possible on the back end.
Realtors provide many benefits for those dealing with the real estate industry, but especially for buyers right now in this market. Since the inventory is low, buyers are going to need to be competitive if they want a shot at getting their offer accepted.
Your realtor will be able to handle the stressful negotiation period for you after providing you with recommendations on what to submit for an offer.
No matter if you’re considering buying or selling, don’t let the current market intimidate you! With the right real estate team, it will still be a fun and invigorating process.
If you’re not enjoying your experience, then you’re working with a realtor that’s not a good fit and we recommend you shop around for someone new.
If you have any questions, feel free to submit an inquiry on our website.
Statistics source: Minneapolis Area Association of Realtors