Lakeville Market Update March 15, 2012
Lakeville, MN is in the process of a successful spring buying season. With total residential sold units running well ahead of 2011 and more optimistic employment numbers, demand could have an upward effect on sale prices this spring.
According to data supplied by the Regional Multiple Listing Service of Minnesota, there are currently 276 active residential listings in Lakeville. 88 sellers have accepted offers that are pending closing, and 131 homes have been sold since the beginning of 2012. Year over year, this represents an increase of about 26% over the 104 homes sold in 2011 in the same time period.
Although the sales trend is good news for sellers, there may be some disappointed Lakeville first time homebuyers who have been waiting for the market bottom. That ever evasive bottom may be best experienced in your rear view mirror. With increased demand and an improving economy, it's very possible that mortgage financing interest rates could increase. Unless you like to buy high and sell low, now is the time to make the life style upgrade that you and your family deserve.
Call me to arrange a convenient time for a complimentary home buyers orientation and landlord firing strategy session. It takes about an hour, it's free, and most folks say it's fun. We'll discuss the current market, buyer advocacy, how to find and pay for a new home, and whether now is the time for you to pursue your buying opportunity.
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