Temperatures are rising and so is buyer activity. It’s up 15.7% from last year, a twelfth-straight increase in month-over-month pending sales. Demand from buyers in the Twin Cities metro continues to out-pace the supply of new listings into the market.
Days On Market Down 56.3% From Last Year
This decrease is even more impressive when you consider that the median home price rose 16.1% in that same time period.
-46.9% in New Listings
Compared to last year, new listings are really low. Buyers need to be ready to make firm decisions and high offers.
+15.7% Pending Sales
We’re in the high season now and we see that reflected in increased pending sales. Buyers are being aggressive since inventory is low and new listings don’t stick around for long.
Currently, the Twin Cities has 1.0 month’s supply of inventory. Typically, four to six months is considered a balanced market. If you’re selling, don’t settle for the first offer you get, unless it’s irresistible. You can expect to receive more offers very soon.
At Helgeson Platzke Real Estate Group, we’re proud members of Eden Prairie’s esteemed small business community. We’ve offered the very best in Twin Cities real estate since 1995, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our knowledgeable and experienced staff ensure your homeownership goals are delivered. If you’re considering buying or selling your Eden Prairie area home this year, now is the time to enlist the help of a real estate professional who can help you make the most of the market no matter the situation.