Buyer activity seems to be heating up! Sales ending February 14th, 2009 showed pending sales for the Twin Cities area at 731, that is up 17.1 percent! Over the last 12 weeks there have been more than 1200 pending sales compared to last year. During this time period, over 60 percent of the sales were lender mediated foreclosures or short sales.
With an increase in sales, we are seeing a decline in inventory. There are approximately 4000 fewer homes on the market right now than there were at this time last year, a drop of nearly 14%. New listings also continue to lag behind last years pace, as the most recent report showed a 9.5% year over year drop! Information courtesy of the Minneapolis Area Association of Realtors. For more local information about the Waconia area visit my website at www.JeffSchulzHomes.com