The Lion of the winter and spring has controlled the sales of real estate in 2013. Sales of units are down 10% through April 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 amount of homes for sale has dipped 24% from last year. As a result, we are once again seeing multiple offers. It is an excellent time to sell as indicated by a 6% reduction in time to sell and a 2% 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…