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Tuesday, April 08, 2008Minnesota Real Estate Weekly Update
Finally some more upbeat news for the Twin Cities real estate market! 1,971 new listings came onto the market. This however was a refreshing 14.8% drop compared to last year at this exact same time. Overall inventory levels are at 31,176 listings. This is only a 4.7% increase over last year. Pending sales were lower by only 15.9% compared to last year, with 719 properties accepting offers. Lastly, there are currently 7.96 houses on the market for every one buyer.
These numbers show that the local market here is not as hopeless as many experts think. Buyers continue to make offers and purchase properties at discount prices.
Our team, The Minnesota Real Estate Team has seen an increase in overall activity for our agents this year. Year to date, we have 177 accepted sales set to close. This is up 73% compared to last year at this exact time.
For all of your real estate needs, call us at 952-649-1456. We were again the #1 real estate team in Minnesota in 2007! Put us to work for you!
Look for another real estate update next week!
Posted By: Ryan O'Neill @ 4:39:58 PM