Under 10,000 Active Listings in the Twin Cities!!!

By
Real Estate Agent with Keller Williams Premier

Under 10,000 Active Listings in the Twin Cities!!!

I looked at the monthly numbers today. December shows 2.9 months of active inventory. This equates to about 11,900 active listings. For comparison, we had almost 29,000 listings in July of 2010.

Here's the interesting fact though, there are many listings under contract so we actually have about 9,400 active listings that are not under contract. I can't see any month or year where we've ever had so few listings!

 

So what does this mean for you as a buyer or seller?

As a buyer, it means prices are going up. Maybe even significantly up in certain areas due to increased demand and low supply. Buyers will no longer be able to offer whatever they want and also, they'll be in multiple offer situations for any house that shows value.

As a seller, it's a great time to sell. However buyers have gotten used to seeing homes in good condition so if your home needs work you still need to price it right to create enough value to get it sold. If you can't sell your house in THIS market, it is definitely overpriced!

Take heart though! This is part of the process for increasing home values and that helps us all!

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Topic:
ActiveRain Community
Location:
Minnesota
Groups:
Keller Williams 'Rainers
Market Reports
Minnesota Real Estate
Tags:
market update
home prices
twin cities
active listings
december 2012

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Rainer
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Jeanne Kozak
RE/MAX In Action - Martinsburg, WV
REALTOR and Broker/Owner in WV and VA

I noticed the title to your blog about your # of listings and thought about how different a market with that many listings must be. We have probably less than 1000 in 4-5 counties we service

Jan 10, 2013 01:05 PM #1
Rainmaker
3,983,315
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

This is great news and it is a trend all across our area.

Even my rural area is way down on listings.

Jan 11, 2013 09:58 AM #2
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Rainmaker
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Nate Gerard

CDPE, East Metro Twin Cities Realtor
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