Showings remain strong following Labor Day and inventory is healthy provided sales continue throught the fall. No major moves are expected prior to the election but I've been surprised before!
Of course, the Fed's announcement regarding QE3 helps residential real estate with regard to mortgage interest rates and affordability rates unseen in over 50 years!
The stats for Woodbury homes sales in the previous week:
• New listings replenish sales with 36 homes hitting the market
• Pending properties remain strong with 135 homes under contract
• Overall inventory edges up 3% with 280 homes for sale
When adjusted for seasonality and compared to 2011 for the month of August 2012:
• Median Sales Price was the same at $229,000
• Days on Market is down 25% to 111 days on market
• Percent of original list price received went up to 94.3%
• Months supply of inventory is down 57.1% to 4.2 months
Information is gathered from the Northstar Multiple Listing System and "InfoSparks"
Good luck and happy home selling!
The Johnson Real Estate Group serves Woodbury, Oakdale, Cottage Grove, and the entire Twin Cities Area including Western Wisconsin! We are dedicated to providing a superior experience when buying or selling your Twin Cities home! Contact us at www.mattjrealtor.com to find out more.