Happy New Year!
We hope you are doing well and had a wonderful 2013. We are looking forward to an even better 2014! The housing market made a rebound last year, and 2014 Real Estate is off to a great beginning.
Here are some current local statistics we thought you might find interesting. The following data was taken from the Multiple Listing Service (MLS) for the St. Cloud, Sartell, Sauk Rapids, Waite Park and St. Joseph, Minnesota areas.
- In 2013 there were 1,405 homes sold; over the past two years there has been a 24% increase in sales.
- There are currently 569 homes on the market. In the previous two years, inventory has decreased 25%. That is good news for sellers! Now is a great time to consider listing.
- The average time on market decreased from 106 days in 2013 to 95 by January 2014.
The short of it is, if you are thinking of buying or selling, now is a great time. Home values are on the rise and buyers are experiencing a shortage of inventory. Interest rates are very competitive and the housing affordability index is extremely favorable.
Predictions for the housing market in the upcoming year are optimistic. Lawrence Yun, chief economist of the National Association of Realtors, recently stated, “Home sales are recovering now based solely on fundamental demand and favorable affordability conditions.”
We wish you the best in 2014! Let us know if we can help you in any way this year . . . from a recommendation for house or lawn services to a free market analysis on the current value of your home. Feel free to call, email or text if you have questions, would like market/pricing information, or if you want to move forward with the spring market. And by the way, if you need someone to go with you to a St. Cloud Rox game this spring, give us a call and we’ll join you! 😎
And remember, we love referrals. Please let your family, friends and neighbors know we are dedicated to making each home sale smooth and successful.
Make it a great year! We hope to see you soon.