How does the market now compare to the year in general? Here’s your update.
We’ve had a lot of questions from people who are wondering how the market went this year. So today, I want to give you another market update and talk about what conditions and trends we noticed in 2017.
It’s been a good year for buyers, with interest rates at a record low. It’s also been a great year for sellers—many homes sold in two to eight weeks, which is far more predictable than just a couple years ago.
“It’s been a good year for buyers, with interest rates at a record low.”
And right now, we have a relatively low inventory. We currently have about 680 homes on the market within 25 miles. To put that in perspective, last year at the same time, we had 660 homes on the market, so it looks like we’re going to start out like last year: low inventory, strong sales, and lots of activity. It’s a great time to put your home on the market if you’re thinking about doing it early. Remember, if you do sell in January, we’re probably not closing until March or April at the latest.
How many homes sold this past year? On the MLS, 1,625 homes sold in the St. Cloud area. Of those, we’d like to thank the 98 families that worked directly with us who are now living in a new home. It’s been wonderful helping many past customers, friends, family, and those in our sphere of influence.
If you are looking to make a move this coming year, now would be an excellent time to get ready. Our spring market typically begins January second, and our inventory will be at the lowest level of the entire year during the first few weeks of January. As we move into spring, we’ll see inventory steadily pick up. The first three months of spring, if you’re ready, is an ideal time to sell. Inventory is tight and buyers are actively looking.
If you have any questions, topics you’d like us to cover, or if you’re looking to buy or sell, feel free to give us a call.
