One of the best parts of working in the real estate industry is watching market trends and how shifts in the market can happen quickly. Often times, as agents we see it first hand before the rest of the media picks up on it. This happened a few years back right around Feb. when we began seeing multiple offers on what seemed to be everything. Overtime the pendulum of the buyers market had steadily shifted towards a sellers market. Inventory levels were down and demand and confidence in the market had gone up.
A recent Press Release from the St. Paul Area Association of Realtors (SPAAR) indicated that this years home sales have been “The Best Since 2006” – which is great to see. Based on what we are currently seeing in the market, it looks like we will be heading into another strong Spring market for 2016. Inventory levels are still down and interest rates are beginning to tick up ever so slightly. This may move additional buyers off the fence to purchase in the beginning of 2016.
When selling our family home last year, the one thing that really helped us get ready for the market was having our stager out at the property giving us a list of everything that needed to be done. It was super helpful and provided us with a working guide. The one thing I wish we would have done differently is started earlier. The month it took to get the home ready for the market was a ton of work – it was worth it in the end as it sold for full price in 3 days.
If you are targeting either buying or selling in the Spring of 2016, you should already be talking to your agent to ensure that you are not stuck in the preparation mode, while other homes are selling very quickly. We take consultant based approach and really work on setting expectations for time frames. Let us know how we can help.