Home Buyers are Active in MN!
Homes in MN – Are Selling!
Its been a crazy last few days for the team. We have sold 5 homes this week, the week before Christmas. Normally we see minimal activity this time of year, however with low rates and good relocation traffic we have had some happy sellers this week. The brokerage as a whole (ReMax Advantage Plus) has experienced unusually high showing rates for late December and is also reporting overall strong numbers.
Buyers are missing out on the good properties
We have experienced many of our buyer clients loosing out in multiple offers on their property of choice. For the first time in several years its not uncommon to see multiple offers in the lower price ranges. Most of the higher price points are not experiencing this too often however.
Fluke or Market Change?
Minnesota Realtors have reported overall inventory is at its lowest point in close to 5 years which points to a balancing market. Shadow inventory is also not weighing in on buyers minds right now since the industry has been talking about his “shadow inventory” for 2 years now but people really have not seen any major changes in foreclosure volume. Signs are positive that 2012 will be a strong year for sales and further stabilizing of prices.