March 2016 marketed a new record month for the 13-County Twin Cities Region with 5,301 signed purchase agreements…5,301 purchase agreements is the highest March total since 2005, and was a 30% increase from March 2015. That is a huge number – in fact, not one that we have seen in a while. Our office is receiving calls almost daily asking about upcoming inventory not yet on the market. When we list a home on the MLS, if we do not have a showing scheduled within the first 20-30 minutes, we are wondering what is going on?
When selling a home in a sellers market: Be ready to show once you go live. When the home is prepared right and priced appropriately, you will have showings – lots of showings. Have a plan on where you can go during the showings/open house(s). Have a plan for housing after the home sells. If you plan on purchasing a home as well, be ready to make an offer or offers if need be. The best homes will be off the market within 24-48 hours.
When buying a home in a sellers market: Be prepared to write a strong offer and even over asking price if in multiples. The strength of an offer goes beyond the price as well. Other terms are financing (conventional is ideal over FHA), closing costs, and close date. Your agent will be able to discuss at great length the best ways to position your offer.