A Look Back at 2013

Hello and happy holiday season from Coldwell Baker Burnet and myself. I hope this special time of year finds you warm, happy, and full of the giving spirit. 2013 is coming to a close and so I want to take this time to discuss the last year in the real estate market here in St. Cloud.

This year we had 2,600 closed transactions within a 30 mile radius of St. Cloud; which is the highest it's been in 8 years. That's 2,600 families who relocated, and many of these families moved quicker than we've seen in a while. Average move time was 2-8 weeks, vastly exceeding 2011's average of 4-8 months, and the predictability of sales is much better as well. Clearly, now is a great time for sellers and buyers which means our market is getting back to a good balance. Inventory is down and interest rates are still in the low 4%, but early next year they may start rising as the government looks to maintain a balanced market.

Beginning of next year, I predict a quick start as we have 220 pending sales. This is almost double from where we were at this time last year. It's a great time to sell or buy in St. Cloud and it looks like that trend will continue into 2014.

If you have any real estate questions please don't hesitate to call me at (320) 240-3363. Stay tuned for our future video blogs, have a wonderful holiday season, and I look forward to hearing from you.