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Monday, April 14, 2008Minnesota Real Estate Update
The Minnesota Real Estate continues to offer real estate help for buyers, sellers, and investors alike. We have our real estate 101 investing seminar this Wednesday night at 6:30 PM. For more info, go to www.InvestmentPropertyGuys.com or call 952-649-1456.
2,313 new properties came onto the market here in the Twin Cities metro area this past week. This is a modest 0.5% decrease from 2007. 780 listings went pending, a decrease of 18.1% compared to last year at this same time. 31,615 active listings are now on the market. The overall inventory level is only 3% higher than where the market stood last year.
In regards to the supply/demand ratio, we have 7.96 houses on the market for every one buyer. In April 2007, we had 6.5 houses on the market per one buyer, and we had 5.28 houses on the market in April of 2006.
Right now, we have 9.6 months worth of inventory on the market, up 23.9% compared to 2007.
Year to date, the team has sold 187 properties! The market is not all down...not all "doom and gloom" as so much of the media would like us to believe. Work with a professional on your next purchase or sale....work with the #1 Real Estate Team in Minnesota, The Minnesota Real Estate Team!
Look for another real estate update here next week!
Posted By: Ryan O'Neill @ 4:57:48 PM