Apple Valley, MN could face a shortage of available homes for sale during the spring buying season. With total residential sold units running substantially 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 219 active residential listings in Apple Valley, fewer than were on the market on this date in 2011. 105 sellers have accepted offers that are pending closing, and 108 homes have been sold since the beginning of 2012. Year over year, this represents an increase of about 11% over the 97 homes sold in 2011 in the same time period.
Although the sales trend is good news for sellers, there may be some disappointed buyers who have been waiting for the market bottom, and the trend is likely to continue. If you're thinking about buying, the time for action is running out. As the market improves, demand for financing will increase, and you know what happens when demand increases. Not only could you be facing higher selling prices for homes, but you also may have to accept higher interest rates on the mortgage loan.
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 no obligation home buyers orientation and strategy session.
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