FALLING IN LOVE WITH A HOME
This morning I received a thoughtful series of questions from one of our sellers.
"I’m curious what you are seeing right now on the buyers side. Are you seeing many buyers (especially in our price range)? Are the people out there ready to buy…or still looking? Just wondering if there are people out there ready to fall in love with our house."
The underlying concern this seller is expressing is shared by many sellers: Is there a ready, able and willing buyer available for my home. In a word, the answer is yes. Here is a quick look at the data.
The St. Cloud Area Market
I am using the Multiple Listing Service as my source of information with a focus on the St. Cloud area (St.Cloud, Sartell, Sauk Rapids, Waite Park and St. Joseph).
The first chart gives us the current number of homes on the market by one hundred thousand dollar price brackets. The highlighted bracket has the majority of homes offered (284 units). The average days on market for this bracket is only 144 days, but the cumulative days on market is a staggering 222 days or seven and a half months. Remember, an average reflects all homes on the market. It represents homes that today's buyers feel/think are over-priced and homes that are considered a 'deal' by today's buyers (properties that sell within 30 days). Also, we have short sales and foreclosures influencing the average days on market.
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The second chart represents sales during the month of March in the same geographic area. Again, the 100 to 200 k price bracket has the greatest activity followed by the bracket beneath it. The lower brackets still make up the lion's share of the sales (66 in March).
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Our Brokerage
I am always interested in the number of showings my listings are receiving and I like to compare that number to my company showings. During February, Coldwell Banker Burnet had 360 showings of CBB homes. This number increased by another forty showings during the month of March. This is Good News! Even though we set records for snow.
Better News! Sales production at Coldwell Banker Burnet doubled from February to March.
Tami and Steve Team
Best News! Our March showings (doubled), contracts written (eight in the last 10 days) and production (up 500%) all increased from February.
So yes, in a word, Spring Market is here. There are ready, able, and willing buyers that will fall in love with a home. Not as many in the higher price brackets, but there is movement at every price point.
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Tami DeLand and Steve HansenSaint Cloud and Central Minnesota REALTORSColdwell Banker Burnet(320) 258-6675---
St. Cloud Real Estate, Condos, Homes for SaleCentral Minnesota Real Estate---
Labels: burnet realty, coldwell banker burnet, foreclosure, i-94homes, saint cloud homes, short sale, st cloud homes for sale, tamiandsteve, where are the buyers, www.i-94homes.com
