Housing Inventory Rising in Minnetonka
Here is the Local Market Report Blog for August 2014 in Minnetonka provided by MinnetonkaExperts.com. It shows the following statistics for 2014 from 2013 (Data from MAAR):
New listings up .8% with inventory for sale up 25.8%
Closed Sales – SOLD properties are down 3.9%
The median sales price is down 1% while the average sales price is down 2.69%, the average price per sq foot sold down slightly at 1.5% to $139/sq ft.
Minnetonka has a 4.8 month supply of inventory – what does that mean? If no other properties were to come on the market for sale, it would take that long to sell the ones that currently are.
Link to Report: http://maar.stats.
Thinking about selling? Important factors to keep in mind:
Partner with the right Realtor/Team – marketing and exposure to buyers looking are vital with competition levels increasing. Look for experience with a proven system that delivers results. My team prides itself on using the latest cutting edge technology and marketing avenues to reach as many buyers as possible – and we’d love the opportunity to compete for your trust and business.
Staging – it can’t be ignored when you want to be the property of choice in the current market and rising inventory levels. There is a lot of staging that can be done for minimal or no cost, you live in a house differently than you sell one – the buyer has to imagine themselves there versus you. I’m an accredited staging professional and happy to help you stage to sell.
Pricing – In a market with rising inventory and housing supply, this is vital. Data is important to analyze – and to have the right partner who knows how to to so to maximize your price and profit for the market conditions. It’s important to have a real estate partner that will be honest and up front with you, not tell you what you want to hear to “buy” your business and then have you frustrated months down the road and the need to start again. There are many factors that go into pricing a home, hire someone who can discuss them with you.