Maple Grove Real Estate Sales
Many professionals are predicting that real estate will be hot this year. Sales in Maple Grove are expected to increase along with its prices. Many homeowners were previously upside down; now they are finding themselves in a much better position and are ready to move on up. The change in the available inventory of homes for sale since 2012 to present is dynamic! It appears the days of short sales and foreclosures are finally behind us. Price has appreciated enough that homes that may have been previously underwater can now afford to sell. Short Sales & Foreclosures are down over 30% each from the year before, and now represent only a small fraction of the homes available.
Short Sales and Foreclosures down in Maple Grove
Shortage of Inventory in Maple Grove
Now before we get ahead of ourselves, there is still a shortage of inventory, in fact in Maple Grove it is currently down 14% from last year. With only 2.1 months supply of inventory in Maple Grove, it is a seller’s market. Homes that are marketed properly and priced appropriately are selling fast! The average number of days on market is down to 68 days for 96.9% of current listed price. The Median and average sales prices are up, however this is largely due to the shift in style of housing that is being sold. An individual market analysis should be done on your home to determine the most likely sales price.
Spring Real Estate Market will be hot in Maple Grove, MN
Traditionally the day after the super bowl marks the beginning of the spring market, though with the polar vortex in full effect we may see a slight delay. We’re already seeing inventory pick up, and showing/buyer inquires have increased across all price ranges. Many home buyers are filing their taxes, and getting preapproved through local loan officers in preparation to search for home in the spring. The Parade of Homes also starts in Feb, which tends to get more people thinking about moving.
My prediction is that we will see a 30-40% increase in Activity during Feb & March.