The Minnetonka real estate market is heating up as always! Minnetonka's proximity to the Twin Cities metropolitan center and its abundant recreational opportunities made its real estate market dynamic, not to mention the country’s improving employment condition. Did you even know that the market is so hot right now you can even underprice your house? Read on and understand why.
Even if your Minnetonka home for sale is originally underpriced there is nothing to worry about. With the Minnetonka real estate market enjoying its stability since the past year, a house will sell in multiples for well over its original price. The current percentage of list to sale price and median sale price of homes for sale in Minnetonka are up while inventory, days on market and months’ supply of inventory are down. In the Minnetonka real estate market, buyers market usually takes at least 7 months supply of inventory with 4-6 months as a balanced market and at least 4 months for sellers market. Know more about the details of Minnetonka’s real estate market below. Read more to know Minnetonka's real estate market figures for Minnetonka and its cities that are running for this year.
It is important to note that home prices in Minnetonka, just like in other areas in the US, are affected directly by their appraisals. If the appraisal did come in low, a $170K value home may be sold for $208K in about five days. This is based on one of The Exceptional Home Team's transactions this year.
Since the Minnetonka real estate market is undeniably in tip top shape, there is no other reason why you should not sell your home, especially if you already have plans to move. This is also the same reason why buyers should purchase Minnetonka homes for sale right now. And to help you achieve a successful transaction, always make sure that you contact a real estate agent who understands the market as well as your needs. So call us, The Exceptional Home Team, to take advantage of this opportunity.
Comments (0)Subscribe to CommentsComment