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Hi Steve from Wilhelmy Homes
Thanks for stopping in
I want to give you an update on real estate for April of this year in the Twin Cities
Everybody knows that April was a little different this year
Because we had some strange weather and it showed up in the numbers
We did pretty well in general in the Twin Cities
But we didn't spike up like we normally do in the spring
So I think May is going to be a really interesting month
Let me run through some numbers and if you see me looking over
I am looking at a sheet
I know the numbers pretty well, but I don't memorize them
The number of houses sold in Twin Cities
Was about the same as last year at this time
Just shy of 4,000 units
As far as putting new inventory on
We actually were up quite a bit
Last year we listed about 6500 units and this year in April just over 7000 units
In March we put just over 6000 houses on the market
So we are up almost 15% in putting new houses on the market
So we are selling more than last month and putting more on than last month
As far as average sales price; good numbers
We are up over 10% from last year and up just over 5% from last month
The average sales price in the Twin Cities is $224,909
A good fact to gauge the health of the market
Is the percent of distressed properties that were either sold through a bank owned process
or a short sale process
Last year in April was 43% of the houses
And March was 38%
And this month was 32% of the houses sold
So you are seeing that drop down which is pretty typical for spring
More traditional sellers get out and are selling the houses than in the winter months
Months' supply is still really low
Last month was 3.0 months and this month is 3.1
If you remember from before months' supply
Is of all the inventory of homes that we have on hand right now
How long is it going to take us to sell it all off
Anytime you are below a 6.0, you are in a seller's market
We can see that definitely throughout everything that it's a seller's market with multiple
offers
And above list price offers, so if you are a seller
You are going to get a great price for your property
As long as it's in good shape and priced right
If you are a buyer, you need to be aggressive with your offers
Make sure you are in the door right away
That's why you work with us
To make sure your home is the one buyers are writing the offers on
And if you are the buyer, to make sure your offer is the one that is getting accepted
If you have any questions, drop me an email at Steve@WilhelmyHomes.com or give me a call
at 612-619-2638
Thanks again for stopping by