The newest numbers for our market are in, but what’s changed? Stay tuned to find out.
I’m back again with the latest update on our St. Cloud market. Taking stock of our spring market first, we saw an overall strong performance. Hopefully, that momentum will keep up.
Let’s jump right in:
All told, 1,137 homes have sold over the last six months, which is nearly the same as our number of sales at this time last year.
449 sales are currently pending in our market. Just a few weeks ago, that number was at 420, which is telling of how well homes are selling right now.
Better still for buyers, inventory is also up: We have 725 properties currently waiting to be bought on our market. Contrast that with last month where we had just 620. More inventory means more choices for buyers shopping for their new home.
Next, we have a three-month supply of inventory—a number that’s comparatively low. Interestingly, though, more properties have been listed this year than last year, but homes that have been selling this year are selling faster than those in 2018.
What does all of this mean for you?
Well, whether you’re looking to buy or sell in our market, this is the year to do so.
Given our current conditions, sellers will enjoy a quick sale and plenty of predictability.
By the same token, buyers will enjoy a wider selection of homes and, best of all, interest rates are in the 4%, and sometimes even sub-4%, range on a 30-year fixed-rate loan. Not to mention that you can shop outside the confines of loans that require 20% down. We have programs that will allow you to make anywhere from a 0% to 5% down payment.
If you have any questions related to real estate or you’d like to talk about your options, please let us know. We look forward to speaking with you soon!