If you are giving any serious thought to listing your house for sale in 2016, here is the #1 reason not to wait!
Buyer Demand Continues to Outpace the Supply of Homes For Sale
11,519 homes. Remember that number, because it's a BIG one (or technically a very, very SMALL one). Currently in the Twin Cities there are only 11,519 homes for sale, 19.3% fewer than one year ago (when there were 14,274) and far below the high of over 36,000 in mid-2007. 11,519 is the lowest number of active homes for sale in the Twin Cities at any point in the last 12 years - yes you read that right, t-w-e-l-v-e. Sellers, what are you waiting for? With interest rates showing signs of finally rising and inventory at its 12-year low, you may be staring your "perfect storm" right between the eyes.
The National Association of REALTORS’ (NAR)Chief Economist, Lawrence Yun recently commented on the inventory shortage:
“While feedback from REALTORS® continues to suggest healthy levels of buyer interest, available listings that are move-in ready and in affordable price ranges remain hard to come by for many would-be buyers.”
The latestExisting Home SalesReportshows that there is currently a 5.1-month supply of homes for sale nationally, and locally that figure is a shocking 2.8-month supply - also at a 12-year low just like the number of active homes for sale. Keep in mind that a 6-month supply is considered necessary for a normal, balanced market and we're well below that figure both locally and nationally.
The chart below details the year-over-year inventory shortages experienced in 2015 on a national level (for local stats contact me):
Anything less than a six-month supply is considered a“Seller’s Market”. Again, locally we're sitting at a historically low 2.8-month supply. Add to that the Twin Cities median home sales price is up 7.3% from last year and 12.3% from 2013, and the data just keeps getting better.
Meet with a local real estate professional who can show you the supply and overall market conditions in your city and neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy your house now!
My job as an agent is to represent you and your interests and do my best to protect you along the way. If you’re considering a home sale, now or in the future, please reach out to me. There are many ways my team and I can lower your stress and help you sell your house (and find a great new home too):
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We understand that buying or selling a home is more than just a transaction: it’s a life-changing experience. Really, it can change your life. So, choosing the right Realtor is a huge decision. We want to be your agent for life, for your life.
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What does that mean for you?
When you’re selling your home
We’re uniquely positioned to help your home shine, inviting buyers in. We’ve got the marketing savvy to ensure maximum exposure to the market and the negotiation prowess to help you net the most possible in your sale. We actively, proactively look for buyers for our clients.
When you’re buying
You want a team that knows the market, knows the neighborhoods and knows the trends. You also want a team that knows how to win a multiple offer scenario. The right offer can put your offer over the top and help you get that new home you’ve been dreaming of. It matters. Better yet, the right team can help you find properties before they hit the market. As they say, sometimes it’s about who you know.
When you’re investing
Real estate investing is a terrific way to build long term wealth. You’ll want to choose a team that invests personally, whether renting or flipping, in addition to working with clients. There’s no better way to know the market.
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"Working with BlueFuse to sell our house was an amazing experience. Then, with their extensive knowledge of the area coupled with thorough research, they helped us price our home to be competitive and generate immediate interest. Then, they consulted with us on the best way to stage our home. With professional pictures to create an aggressive marketing campaign, it isn't surprising that our house sold in two days over asking price. BlueFuse brings all facets of real estate to the and we highly recommend them. "