We are seeing a similar trend as reported earlier in the year: low inventory. Since there are more and more house hunters as the weather warms up and we reach the peak season, inventory continues to decline. Too many buyers, not enough sellers.
+20.8% in Pending Sales
As the peak season approaches, more listings are seeing more offers. Buyers are seeking out their dream homes now that they don’t have to brave the cold.
+27.1% in New Listings
Sellers know that now is the time to list their homes for sale, and with such low inventory, buyers are flocking to open houses like bees on the freshly blooming flowers. This number is a bit misleading because it tells us there might be increasing inventory, but that is not the case.
-49.3% in Inventory
The market seems to be taking off a bit early this year due to low inventory. Buyers are realizing there aren’t a lot of options, so they are pulling the trigger quicker so that the house they like doesn’t get bought out from under them. This also means that sellers are receiving more and higher offers.
If you’re buying, get a move on! There will continue to be new listings, so keep an eye out, but inventory is trending to remain low all season. When you find something you like, jump on it! If you’re selling, it might be smart to wait for an offer that you literally cannot refuse. Chances are you’ll be receiving offers from multiple sellers.
At Helgeson Platzke Real Estate Group, we’re proud members of Eden Prairie’s esteemed small business community. We’ve offered the very best in Twin Cities real estate since 1995, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our knowledgeable and experienced staff ensure your homeownership goals are delivered. If you’re considering buying or selling your Eden Prairie area home this year, now is the time to enlist the help of a real estate professional who can help you make the most of the market no matter the situation.