The Spring Selling Season: New Listings by Month
The Twin Cities Spring real estate market is a bit of a chicken and egg question. Do the buyers come out first, then the sellers respond by putting their homes on the market? Or, do the sellers put their homes on the market drawing out buyers? What we've seen as a general trend in the Twin Cities, is; over the years, there has been a reliable pattern that sellers begin to put homes on the market in February, after the Super Bowl. From there, the numbers of new listings per month continues to rise. It will be interesting to see how the 2017 market plays out.
In this area of Minneapolis (Cedar, Calhoun, Isles), the item of note is the doubling of new listing inventory in the $1-1.9M (green) range from first quarter of 2016 to the first quarter of 2017. Meanwhile the $2M+ (purple) price range is a bit lower in the first quarter of 2017 versus 2016, 4 versus 7. Inventory peaks in 2016 were generally similar to overall Twin Cities market trends with the peak in June, 32 properties in the $499K or less (blue), and 16 properties in the $500-$999K range (red). Although we can't see how the 2017 trend will unfold yet, it is interesting to note that March and April saw 28 new listings in the $499K or less range (blue) as well as 17 new listings in the $500K to $999K (red) range, with steady uptick's in the $1M to $1.9M range (green).
For the chart, neighborhoods include: Bryn Mawr, Cedar-Isles-Dean, Kenwood, Lowry Hill, ECCO and West Calhoun
This chart is interactive, slide cursor over graph for further information.
If you’re interested in buying or selling, we’re here to help you. I will help you understand and am ready to help you in today’s busy real estate market. Contact me today, let's talk today, 612-925-8455 or Chad@BergLarsenGroup.com.
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