DAVID BURKUM REALTY
  • MAIN
  • ABOUT ME
    • Background & Values
    • CLIENT COMMENTS
    • Why You Need a REALTOR®
  • HOME TIPS
  • BUY & SELL
    • FOR SELLERS
    • FOR BUYERS
    • FEATURED LISTINGS
    • SEARCH FOR HOMES
    • Value of Your Home
  • CONTACT
SUBSCRIBE
DAVE'S HOME TIPS BLOG

MN HOUSING REPORT: REALTORS HELP IN A CHALLENGING MARKET

11/12/2021

 
The supply of homes continues to be very low. This is causing the median sales price to increase and lowers the number of days a house is on the market.  According to AXIOS NEWS, as of November 12, the number of days houses are on the market is now the lowest it has been since 1989.

What does this mean for sellers? Your house is likely to sell fairly quickly and you should get a good price for the property you're selling. With current low mortgage interest rates and a low supply of homes, this is a great time to sell.

What does this mean for buyers? Expect to compete with other offers. Understand that purchase offers will need to be very strong (competitive purchase price and reduced contingencies/demands). Prepare yourself for making several offers before you get once accepted.

There are pros and cons to every market, but with the caring help and expert advice of a good Realtor® and brokerage, you can still make the move and find the house you need. I'm ready to help you, and with me you also get the professional support and expertise of the entire Anderson Realty team.

Let's set up a time to talk about your plans, answer your questions, and get thing rolling for your situation.
Picture
October closed sales dropped 16.2% compared to the previous October, marking a return to a more typical seasonal decline. This was reflected in the number of homes for sale, which shrank 18.6% over last year, with just 11,696 properties on the market statewide.

New listings sank 10.2% to 8,428. Overall, there was only 1.5 months of inventory available, down 21.1% from a year ago.

Buyers who remained active continued to compete aggressively for homes, pushing the median sales price up 8.2% to $308,500. On average, sellers were receiving 99.7% of their asking price, an increase of 0.4% above last October.

Comments are closed.
    SUBSCRIBE TO ​HOME TIPS
    Comments from Clients
    Picture
    Picture

    DAVID BURKUM

    When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.

    CONTACT ME
    Anderson
    Realty
    Website
    Picture

    SUBSCRIBE TO
    ​THIS BLOG

    POST TOPICS

    All
    BLOG NEWSLETTER
    Client Testimonial
    FOR BUYERS
    FOR SELLERS
    Home Maintenance
    Home Search
    Market Insights
    News & Values

    Archives

    January 2023
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    April 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    September 2021
    August 2021
    July 2021
    June 2021
    May 2021
    April 2021
    March 2021
    February 2021

Proudly powered by Weebly
  • MAIN
  • ABOUT ME
    • Background & Values
    • CLIENT COMMENTS
    • Why You Need a REALTOR®
  • HOME TIPS
  • BUY & SELL
    • FOR SELLERS
    • FOR BUYERS
    • FEATURED LISTINGS
    • SEARCH FOR HOMES
    • Value of Your Home
  • CONTACT