For the last year or so, it has been a hot seller’s market with homes selling super quickly and going for top dollar. Homes are still selling quickly but we are starting to see some changes that lead us to believe that we are moving towards a more balanced market.
According to MPLS Realtor, we have a 4.3% increase in listings for sale and 6.8% less closings in April of 2019. So that means we have more homes for sale which creates less of a supply shortage, which was driving the market previously. Homes that on are the market are also taking a bit longer to sell. For the 13 county metro, the average days on market for April is 56 where as last April homes were on the market for an average of 52 days. Homes are still selling very close to the list price at 99.5% but compared to 99.9% in 2018, we have seen a small decline. Based on our experience these past few weeks, we expect this trend to continue. However, there are always exceptions and the traditional first time home buyers are still experiencing a very tight market.
Team Lucky Duck has expertise in guiding both sellers & buyers through the real estate process and getting our clients to their goals. If you, your friends or family are interested in buying, selling or investing in real estate, please send them our way. Our goal is to help over 75 clients this year with their real estate needs. Who do you know that could use our assistance? There has never been a better time! We would love to earn their business and take great care of them by providing five star service.