As a real estate agent we like our clients and for those considering putting their home on the market to stay informed on housing trends for Oakdale MN. Subsequently, my research this morning shows me while some home depreciation in Oakdale has continued there are some key positives providing sellers a glimmer of hope. My research clearly indicates that the number of Oakdale homes for sale has declined steadily for the past two years with a big drop in particularly this past year. The past twelve months the Durham Executive Group has seen the number of homes for sale in Oakdale decrease by -19.7% bringing the Oakdale housing market slightly into what we call a seller's market. This is significant! Of special interest is that there has been a slight increase (+0.5%) in the number of homes sold over the past twelve month period in Oakdale (this information has been researched from the Minneapolis Area Association of Realtors).
The positive in this statistic is the old supply and demand equation. With the continued decline in the total number of Oakdale MN homes on the market we are definitely starting to see the very early signs that Oakdale is moving more and more into a 'seller’s housing market'. Oakdale currently has a 4.9 months' supply of homes for sale meaning that on paper Oakdale is officially in what we traditionally consider a seller’s housing market (below 5% is considered a seller’s housing market).
Keep in mind that homes sell all year and not just in the spring. Sometimes home sellers mistakenly believe you cannot sell a home in the winter months, but that isn't the case. In fact, there generally is a lot less competition as many people pull their homes off the market until spring.