As the traditionally fast-moving spring real estate market nears, St. Cloud sellers who will be listing soon have multiple grounds for optimism—with the scarcity of available properties being the most widely publicized. Now it appears that the long-standing national shortage isn’t just continuing: it’s widening.
According to the latest quarterly report from the National Association of Realtors®, buyers in nine out of ten markets they tracked could find 8.5% fewer homes for sale than had been available just one year before. That was in addition to the host of sunny economic conditions (a “soaring stock market, good economy, and low interest rates”) that were further motivating prospective homebuyers. If the number of local listings echoes the national trend, St. Cloud sellers could expect an uptick in competition for this season’s properties.
That was the theme of last week’s lead article in Realtor Magazine. “Home Price Hikes Widen Sellers’ Advantage” foretold the effect constrained inventory is expected to have on this spring’s real estate activity. New research pointed in the same direction: median listing prices have been rising at the same time housing supplies and days-on-market decline. According to move.com, January patterns “set the stage for a competitive homebuying season.”
Although the principles of supply and demand would certainly lead to the same opinion, U.S. News & World Report gave a less ebullient reason to agree. In last month’s “Why You Should Sell Your Home in 2020,” they put out a ‘bird in the hand’ rationale. “Especially if you’re on the fence about selling this year or next,” they wrote, “sell in an environment that’s more predictable…” For homeowners who love their current homes, they advised waiting “five years” before revisiting the idea of selling. But for those nearer to a decision to sell, they had definite advice: “Don’t play the waiting game.”
If you are one of those St. Cloud homeowners having similar thoughts, it looks like selling this season is definitely worth looking into. Do call!
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Providing a superior level of informed, professional real estate services to buyers and sellers throughout Central Minnesota. From Maple Grove to St. Cloud, we have professional Realtors ready to assist! Residential & Commercial Real Estate, Sauk Rapids Real Estate, Sartell Real Estate, Waite Park Real Estate, Rice Real Estate, St. Joe Real Estate, Foley Real Estate. Milaca Real Estate, Litchfield, Maple Grove and surrounding communities. Whether you're looking at buying or selling home in St. Cloud, multi-family units in Sauk Rapids, land in Rockville or any property in Central Minnesota, we are the dedicated professionals to call for your needs. Premier Real Estate Services has offices located in St. Cloud, Sartell, Litchfield, Hutchinson and Little Falls. We intend to be your PREMIER source for all your Central Minnesota Real Estate Needs.
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When it comes to selling your St. Cloud home, some would have it that
"Kara was so easy to work with she got things done! There were property line issues from over 15 years ago that were supposed to have been filed but werenâ€™t. She caught this right away from previous sellers of this property there had been three different realtors. She is so so awesome."