Spring Has Sprung!

​Happy spring to you all. I know you must be wondering how this spring market is stacking up to markets of the past. Has inventory increased at all? Are buyers still out buying? How fast will my property sell? All good questions and we at the Angels Sadat Group are here to help!
 
Inventory: Last March, we had just 1.7 months of inventory, therefore, it is good news that we are up from last year, at 2.1 months of inventory. This may not seem like a big leap; however, it shows signs that we are moving in the right direction. Seller’s market? Yes. Remember, that a balanced market is about 6 months of inventory. This means that if no new homes came on the market, we would run out in 6 months. At this point, if no new homes came on, we would be out of inventory in just 2.1 months. Still, we are moving in the right direction!
 
Buyers: Yes! We have lots of buyers out looking for the right home, currently; however, pending sales in the Twin Cities are down about 8% from last year. Interest rates and increasing prices have held many buyers back from jumping back into this competitive market, but those who know that it is time for a change are out searching and hoping for more inventory!
 
Sellers: Of course, every micro-market is different, but our listings are still selling within the first weekend and they have all had multiple offers. Homes under $800,000 in most markets that are priced right and staged to sell are selling quickly right now; therefore, buyers are preparing more than ever to be competitive with their offers.
 
What about you? Is it time for you to start thinking about your next move? Call now, so we can have a conversation about your ideas and plans. I am always happy to help you sort out the details and strategize so that you can navigate your local market with wisdom and help you to successfully accomplish your goals. We are happy to help!

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