2012 Is A Breakout Year For Apple Valley
Last year we reported that home sales in Apple Valley, MN were heating up in the first quarter. Now, although 2011 had a great start, it pales in comparison to 2012. Compared to last year, inventory is down and sales are up, and not just a little bit.
On March 31, 2011, total homes for sale in Apple Valley totaled 295. In comparison, there are now 211 homes for sale. In perspective, there are fewer than three homes available for purchase today for every four that were available last year at this time.
Even though available homes for sale are trending significantly lower year over year, more homes have been sold. Total homes sold in Apple Valley in the first quarter of 2011 were 130 compared to 139 already reported closed this year. Since there is often a slight delay in reporting closed sales, there may be an upward revision to the current totals. There are 116 additional homes reported with sales agreements awaiting final closing.
In short, supply is getting smaller and demand is increasing. If you're waiting for the housing market in Apple Valley to bottom, you could be as much as a year too late. Interest rates, combined with affordable prices make this the best of the best times to get serious about finding a new home.
Investors have been buying property like it's Wednesday at Kohl's for many months. They are buying mostly to take advantage of the higher demand for rental and the higher rents that support investing in income property. If you're a renter now, there's a good chance your landlord is seeing dollar signs when he looks at you, and they're probably bigger dollar signs than the ones he saw last year. This may be a good time to fire Mr. Landlord and own your own place.
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 was 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 exercise your buying opportunity. Call me now.
Comments (2)Subscribe to CommentsComment