The "Lion" of the winter and spring has controlled the sales of real estate in 2013. Sales of units are down 7% through March of this year from a robust increase from the same period a year ago. Our Minnesota winter has always controlled real estate sales. Sales soar when temperatures soar and they decline during a harsh winter.
The good news for sellers is that the amout of homes for sale has dipped 31% from last year. As a result, we are once again seeing multiple offers. It is an excellent time to sell as indicated by an 8% reduction in time to sell and a 4% increase in the percent of original list price received.
The good news for buyers is that the housing affordability has remained at record levels.
My advice for buyers and sellers…