We hope you had a Happy Halloween! Can you believe Thanksgiving is already almost here!? The frenzy that was 2020 is an outlier. Sales are down from 2020 but up from 2019.
Pending Sales Down 5.9% From Last Year
Pending sales are still down because inventory levels are much lower than last year.
Sellers Seeing 101.2% Of Original Listing Price
It’s a great time to be a seller! Almost every single listing is seeing offers at or above the asking price.
Median Sales Price Up Another 10.2% From Last Year. The sales prices in the area continue to rise year over year.
It is interesting to note the differences by property type. Condo and townhome sales declined by just 2%, but single-family home sales declined by 6%. Previously owned sales dropped by 4.2% while new construction sales dropped by14.4%. It’s getting chilly out there and sales seem to be following suit. The offers that are coming in, however, are red hot. If you’re selling, don’t be afraid to leave your listing up. With such low inventory, don’t be surprised if you get the opportunity to sell so late into the year. Thinking about waiting to sell until Spring? No need to wait! You might see some offers before Christmas!
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.