This video is a great recap of the current state of the real estate market with the year’s steady drop in inventory causing a definite seller’s market at this point in the year.
Buyer’s cannot wait on the move-in ready, well updated & reasonably priced homes in this market. I’ve been out with 4 buyer clients over the last week and we’ve seen a number of homes selling quick and last weekend a big one for showing activity.
Seller’s position is much better than last fall and will continue if our decreasing inventory trend continues into the spring. There has been nothing new coming on in the last couple months in Nokomis. The typical spring first-time buyers are still a month or more off but this weather hasn’t hurt. I had two close in January, a typically sleepy time in MN real estate.
This spring will be very interesting to see if potential sellers become aware of this advantage and list their homes and if buyers come out in numbers with continued low interest rates and better consumer confidence and economic factors than than last year.
– Nick Archer, Realtor with Coldwell Banker Burnet – Licensed in Minnesota