The good news is the housing statisics look to be remaining flat for the past 3 months as far as the number of days on the market and the percentage of list price to sales price is concerned.  The number of listings per buyer is down to 7.9 homes per buyer.  That number is down from a high of 14 in November of 07.  The number of new listings is down 7.9% over last year but the number of pending sales is down 16.6%.  The average number of days on the market is at 165, which is a long time but as I mentioned has remained the same for 3 months.  The percentage of original list price has stayed right around 91% for the past 4 months.  I look for that number to start going up soon.  Many sellers as well as real estate agents are becoming more realistic on what price is possible in this market and are pricing correctly at the start.  The housing affordablility index is at an all time high(since 2005 when they started tracking).  More buyers are now able to afford more homes.  Are we at the bottom yet?  Who knows!  There are not many people who can time the bottom of any market whether its the housing market or the stock market.  I do know there are great homes at great prices out there now.  If you are a first time home buyer, move up, or an investor you will benefit by this market. 

The real estate market is local and varies neighborhood to neighborhood.  Please call for specific information on your home or go to my website www.wolfegroup.net and sign up for a "market snapshot".  My cell phone is 612-868-8655 or (800)568-5818 ext 229.

 
This post has been included in Minnesota Real Estate News
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matt wolfe

Andover, MN

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ReMax Associates Plus

Address: 3351 Round Lake Blvd, Anoka, mn, 55303

Office Phone: (763) 323-6229

Cell Phone: (612) 868-8655

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