Weekly Housing Statistics From The Minneapolis Association Of Realtors

The number of Single Family homes on the market is up over 12% from this time last year.

That translates into about a 10 month supply of homes. The supply of condominiums is slightly higher.

Click HERE to access the full report.

The Weekly Market Activity Report states that the average market time for a single family home is 135 days, a 25% increase from this time last year.

So, what does it mean…..?

If you are selling your home this means that you have to work that much harder to make your home stand out against the rest of the inventory out there on the market. Staging your home and pricing it aggressively are two critical ways to accomplish this. Professional photography and an aggressive online presence also give the potential buyers the information they need to get off the fence and set up a showing.

If you are thinking of buying a home it means that there are more choices then ever for you to consider. With interest rates remaining low (for the time being anyway) now is an excellent time to buy!

However it is important to look at the purchase of a home as a long term investment.

The days of “flipping” houses are over (for now at least). If you are planning to buy, consider appreciation of your investment over the long term, say five to ten years minimum, rather then one to three.

But most important is to look at a property as to how it serves you, and how improvements you choose to make will increase your quality of life as well as the home’s potential resale value.

That is the REAL American Dream.

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