Inventory is down, way down as 21% of homes sold in 2011 were investors - they realized that market values were great. Now, as 2012 unfolds, the news is out that the bottom has passed and traditional home buyers, particularly 1st time homebuyers are also getting it -- sales are up 50% as of 2/25 for the Twin Cities while inventory is down 24%.
Key: Green dots represent homes that are for sale, yellow homes that have sold but not yet closed, red are homes that have sold and closed and black are homes that failed to sell.
In our neighborhood, there are five homes for sale and two have sold in the past two months (click here to see the MLS listings*). Both homes were bank-owned which typically sell at 20% below market value of a "clean, traditional home sale".
Call, text or e-mail me with any questions.
*Note that the link to the listings will expire in May 2012.
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