2014 is off to a GREAT Start!

With record lows set in January, market activity still remains hot.  While the Arctic Blast earlier this month may have shut down some agents, our team still held 3 open Twin Cities Housing Trendshouses that weekend and much to our surprise, activity levels were high with new buyers just getting started in the market.

The reason, inventory still remains low across the Twin Cities.  According to the Minneapolis Area Association of Realtors for the week ending January 4th:

  • New Listings Decreased 18.7% to 678
  • Pending Sales Decreased 12.4% to 507
  • Inventory Decreased 4.9% to 12,368 for the month of December
  • Months Supply of Inventory Decreased 15.6% to 2.7

Conventional wisdom has been to wait and list the property in the Spring Market since there will be more buyers out there looking around.  However, what we are seeing on a weekly basis is anything but conventional.

No one has a crystal ball and knows what 2014 will bring, but we can rest assured it looks like the market is again off to a great start.  If you are thinking about selling a home, it may be a great time to get started now to beat out your competition, and who knows, maybe get multiple offers.

About the Author

Katy Korby is the CFO of the Korby Home Team. Her passion is ensuring that our clients have an out-of-this-world experience selling their homes with the Korby Home Team. Katy comes to us with a diverse background and a unique skill set that enhances the client experience. Her attention to detail and care for people make her a wonderful asset to the team. Graduating with a degree in Theater, Katy has performed in numerous plays and most recently starred in a locally produced indie film that is being entered info film festivals around the nation. Katy’s experience in the work world include many positions within the accounting world including tax preparation, bookkeeping, and full-charge accounting. Most recently before joining the Korby Home Team, Katy was the Market Center Administrator for Keller Williams Integrity Realty in Roseville, where she was the full-charge accountant and handled budgeting and forecasting for the company as well as day to day operations and administration of an 80 person real estate office. Katy and her husband have two children, Libby and Calvin, and have lived in Como Park for almost two decades. In 2013, Katy completed the Tough Mudder 10 mile event and is a proud member of the “Finishers” group! For fun, Katy loves reading, photography and gardening and spending time with her family.