The Real Reason Home Prices are Increasing – Selling Your Home in Fergus Falls MN
As housing inventory stays low in Fergus Falls, new buyers are eagerly waiting for new homes for sale. Now is a great time for you to list your home.
I want to talk to you today about the real reason that home prices are increasing.
There are many unsubstantiated theories as to why home values are continuing to increase. From those who are worried that lending standards are again becoming too lenient (data shows this is untrue), to those who are concerned that prices are again approaching boom peaks because of “irrational exuberance” (this is also untrue as prices are not at peak levels when they are adjusted for inflation), there seems to be no shortage of opinion. Continue reading
Fergus Falls MN | Existing Home Sales Slowed by a Lack of Listings
At the local level in Fergus Falls MN, buyer confidence remains strong; however, lack of inventory has resulted in a decrease in sales this fall.
Particularly in and around Fergus Falls MN 56537, inventory is seeing its lowest level in years. This adds up to being a great time to list a home, even with winter approaching.
Today I would like to talk to you about Existing Home Sales Slowed by a Lack of Listings.
* The inventory of existing homes for sale has dropped year-over-year for the last 29 consecutive months and is now at a 3.9-month supply. (national)
* The inventory of existing homes for sale in Fergus Falls is now at a 2.6 month supply. The shortage is especially evident at the $150-250,000 range.
Even with winter approaching, it is a good time to sell in Fergus Falls. Quality homes priced right are selling quickly. I would love to discuss the possibility of putting your home on the market now. Call me 218-205-6568.
Remarkable time to sell in Fergus Falls! I listed a home on Thursday, put it on the MLS on Friday, had two showings Saturday, two on Sunday, and then on Sunday night received an offer which the seller is accepting. Call me at 218-205-6568 if you’d like to discuss market conditions and your home’s value.
5 Reasons You Should Sell This Summer
Here are five reasons listing your home for sale this summer makes sense. Continue reading
If you are debating listing your Fergus Falls home for sale this year, here is the #1 reason not to wait!
Buyer Demand Continues to Outpace the Supply of Homes for Sale
The National Association of REALTORS’ (NAR) Chief Economist Lawrence Yun recently commented on the inventory:
“Last month’s dip in closings was somewhat expected given that there was such a strong sales increase in March at 4.2 percent, and new and existing inventory is not keeping up with the fast pace homes are coming off the market.
Demand is easily outstripping supply in most of the country and it’s stymieing many prospective buyers from finding a home to purchase”.
The latest Existing Home Sales Report shows that there is currently a 4.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 4.6% lower than a year ago. Fergus Falls continues to see low inventory (right around 3 months supply) with brisk sales. Houses that are priced right and are in good condition are snapped up in a very short time. Many buyers are experiencing frustration with the shortage of homes and the speed at which they sell.
The chart below details the year-over-year inventory shortages experienced over the last 12 months:
Anything less than a six-month supply is considered a “seller’s market.”
Let’s get together and discuss the supply conditions in Fergus Falls to be able to assist you in gaining access to the buyers who are ready, willing and able to buy now!
Low inventory of homes in Fergus Falls is not unique. It’s nationwide. Now is a good time to sell if you are considering a change of home. I would love to talk with you about listing your home. 218-205-6568.
As we head into summer, it is a great time to review how the 2017 real estate market is doing so far. Here is what the experts are saying: Continue reading
We are certainly seeing inventory shortages in Fergus Falls. Our state and our nation are also seeing the same shortages. If you are thinking of selling, now may be the time. Demand for your house will be strongest at a time when there is very little competition. That could lead to a quick sale for a really good price.
The real estate market is moving more and more into a complete recovery. Home values are up. Home sales are up. Distressed sales (foreclosures and short sales) have fallen dramatically. It seems that 2017 will be the year that the housing market races forward again.
However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory. While buyer demand looks like it will remain strong throughout the summer, supply is not keeping up. Continue reading
GREAT TIME TO LIST YOUR HOME!!! Continue reading
One of the joys of home ownership is the opportunity to improve your property. You can definitely make your life better by the improvements you make. But which improvements are of most benefit to you when you sell your home. Realtor.com came out with a list shown below: