Twin Cities Traditional Home Sales Up
Alex Charfin, the founder of The National Association of Realtors is getting the word out to prospective real estate sellers that may help them determine that the time to sell is now.
Transparency. Parents believe it is important school teachers have it, your medical doctor and computer technician have it. Homeowners are asking: do our Minneapolis real estate leader? Yes! And here is your weekly news:
Twin Cities home sales are strong, in fact better than anticipated by most. Transparency is key with buying and selling a home. It encourages both existing and would-be home buyers to make smarter decisions, which ultimately conserves the increasingly scarce taxpayer dollar. In turn, that allows us to invest in things we value as a society like infrastructure, technology, education, research and job training.
Twin Cities Region - Week Ending February 9:
• New Listings decreased 6.7% to 1,229
• Pending Sales increased 5.3% to 914
• Inventory decreased 31.2% to 12,225
For the month of January:
• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 42.0% to 2.9
"Last year, traditional sellers re-entered the market in increasing numbers. With our limited inventory, that's led consumers to purchase more traditional properties, which sell for roughly 60 percent more than distressed properties." ~ said Andy Fazendin, President of the Minneapolis Area Association of REALTORS®.
For the month of January:
Traditional home sales that are closing were up 41.8 percent. That's helped boost year-over-year median sales price comparisons for 11 straight months.
For more good news: The median home price was up 14.3 percent to $160,000.
The 10K Housing Value Index – which adjusts for seasonality and segment bias – showed a tamer 8.2 percent increase to $175,529.
With the number of homes for sale at a 10-year low, seller confidence has become an increasingly vital component to continued housing recovery. There is evidence of improvement on this front, as traditional seller activity has been on the rise.
Contact Jenna Thuening if this news helps you decide to consider selling your home in the near future. It is a sellers market with low home inventory listing and a strong home buyer pool.
Jenna Thuening, a Certified Distressed Property Expert, offers the Market Review for June 2012.11200 W. 78th St
Eden Prairie, MN 55334
Jenna's home page: homedestination.com
If I'm out in the field, you may quickly reach me by email: firstname.lastname@example.org note how I can help you, or leave a message on my voicemail and I will return your call as quickly as possible.