Facebook
Twitter
Pinterest
Copy Link
As of February 10th, the number of new listings on the market is up 12.7% over this time last year. The number of pending sales (contracts accepted) is also up, but not quite at the same pace as the new listing numbers, with a 5.6% increase over last year. Overall, inventory has come up just a bit, but a very welcome indicator for buyers competing in a tight market. Sellers are taking a little more time to sell their home than last year, with an average of 40 days compared to 32 last year. Compared to last year, the price sellers are getting has gone up slightly, up 1.1% from last year.
You can feel the market shifting right now, as we get closer to March. We’re noticing more buyers sharing showing time with our clients when we tour homes. Transaction coordinators, Contract to Close, MN is reporting that 57% of the accepted offers they are working with were competing in multiple offers, while 43% of those buyers waived their inspection contingency, a sign the market is getting competitive!
