Is The Bottom Behind Us?

By
Real Estate Agent with Keller Williams Premier

In my local market of Roseville/Como Park of the Twin Cities (St. Paul/Minneapolis) in Minnesota it appears either the spring market is here or we are seeing a turn around.  In the past month or so the active listings are not rising very fast, in fact in some areas the active listings are declining in respect to the rising pendings!

Homes priced in the $175,000-$225,000 price point that are clean and ready to move in are selling very fast.  I can think of a whole hand full that were sold in less than 2 weeks.  The average days on market for these areas is only 50 days. 

Also the Twin Cities was tagged as a declining market, though in speaking with a loan officer today, it appears that Chase Mortgage is not including some areas of the Twin Cities as declining markets now!  Maybe we have hit bottom or the end is very near.  Is anyone else seeing this type of positive results in the market?

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Rainer
218,585
Lisa Friedman
Alliance Realtors - Bedminster, NJ
Central New Jersey Real Estate
Ryan, I am wondering if we've hit bottom here in central Jersey too.  I have been busier in the last three weeks than I have ever been.
Apr 02, 2008 02:34 PM #1
Rainmaker
138,314
Jeff Kessler
Austin Homes, Realtors www.OwnAustin.com - Austin, TX
Broker,CLHMS,GRI

Looks like the spring is bringing out new buyers.  That is what is happening down here.

J.

Apr 02, 2008 02:37 PM #2
Rainmaker
273,670
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI
Hopefully Ryan, the bottom can't be too far away. This has been quite a mess.
Apr 02, 2008 02:38 PM #3
Rainmaker
55,145
Nyles Courchesne
Peskin, Courchesne and Allen, P.C. - Springfield, MA
Massachusetts Real Estate Attorney
It is really hard to say out in Western Massachusetts.  There are many opportunities for investors!
Apr 02, 2008 02:57 PM #4
Rainer
75,394
Dan Hartman
Province Mortgage Associates - NMLS #2861 - Providence, RI

Great post, Ryan.  I'm seeing things beginning to thaw out here in Rhode Island.

Dan

Apr 10, 2008 06:18 AM #5
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Rainmaker
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Ryan Bretzel

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