Edina Realty – Aaron Dickinson
Minneapolis/St. Paul Real Estate Agent
Week of May 22 Market Activity
May 28th, 2006
As you can see from the report below, the housing market is continuing to adjust. We now have a 6.4 months supply of homes for sale today, and that number is likely to continue to increase. Pending Sales, or homes that have accepted offers but have not yet closed, as still behind last year at this time while the inventory for sale today is up 40% over the same time last year: Weekly Market Activity Report – May 22, 2006
What does this mean to you as a consumer?
If you are selling your home, expect it to take 60-80 days to receive an acceptable offer. If you price your home even a little high, buyers are likely to make an offer on the houses that are priced appropriately, rather than try and negotiate you down to the level of the correctly priced homes.
If you are a buyer, you now have more options available to you than this market has seen in many years. There are likely 2, 3, or more houses that are in the price, location, style and condition you are looking for. While this does provide you with many options, it may make it tougher to make a decision on just one. If you’re having problems deciding, it may be easiest to do a side-by-side comparison between the two homes and weigh the pros and cons of each.
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Sponsor Me on the MS150 Bike Tour
May 27th, 2006
June 10-11, 2006 I will be participating in the MS 150 Bike Tour from Duluth to the Twin Cities. This bike ride is 75 miles each day Saturday and Sunday, with a stopover Saturday night at Hinkley.
The reason I ride: there are more than 7500 people in Minnesota and Western Wisconsin afflicted with MS. While much has been learned about this disease, there is not a complete understanding of why it happens and there is no cure. MS strikes healthy people at all ages, in many situations a person with MS can be perfectly fine one day and not be able to get up the next.
To contribute to my ride, please click here.
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