by Admin Admin
on Friday, April 26th, 2013 at 8:54am.
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 entering the market....use a professional full time real estate agent that knows not only the past comparables but one who knows the present ones and the trends.