The Statistics are out for August and the numbers show that in the 13 County Twin Cities metro, home buyers continue to have the edge over sellers in the real estate market. Affordability is up. Closed sale prices are down. Home inventory per buyers remains in the 10 to 1 range. The good news for sellers is that homes are continuing to sell but at lower prices.
Opportunity is knocking. Have you seen the new ads by the Twin Cities Builders Association? In the television spot, there are doorknockers gone wild--knocking endlessly to get out the message that it is time for buyers to buy. It is more than a promotion for their new blog/website, it emphasizes the fact that the market hasn’t been this good for buyers in years. Buying now is a great investment opportunity.
Compound the increased inventory with the Federal Reserve cutting the interest rates by half a percentage point yesterday; it is an awesome time for buyers to step into homeownership!
As a Realtor working in the north metro counties of Anoka, Chisago, Ramsey and Washington, I see these trends first hand. From Ham Lake to White Bear Lake and Blaine to Forest Lake, homes are selling when sellers take the time to prepare the home for sale AND price properly. With an abundance of inventory on the housing market, buyers have literally dozens of options. Overwhelmed, they will weed out the overpriced, overlook homes with bad photos, and take time to consider all options prior to writing an offer.
2 truths of the current real estate market:
- It is a Great Time to Buy a Home!
- Selling a Home takes Preparation, Patience and Willingness to Negotiate.
AWESOME Featured Listings:
- 1988 Robin Lane N, Centerville, MN 55038
- 3608 Woodland Dr. NE, Ham Lake MN 55304
- 20685 Georgia Ave N, Forest Lake, MN 55025
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