Looking to buy in St. Cloud? Get a full home search
Looking to sell in St Cloud? Get a free Home Price Evaluation
We’ve had a strong market this year! Fortunately, it’s not over yet. There’s still enough time to take advantage of this year’s market. In fact, the spring market starts in only seven weeks!
Our homes average 75 to 80 days on the market. However, well-priced and prepared properties sell normally within three weeks. This time last year, the average time on the market was about 90 to 95 days.
Interestingly enough, we have 181 pending sales during the winter this year! These are homes sold and waiting to close. Last year, we had 128 pending sales during this time.
Typically, if there is less than a six-month supply, the market favors sellers. Conversely, a market with over a six-month supply benefits buyers. Currently, we have a 6.1 month supply, which is excellent news for everyone. This time last year, we had a 6.8 month supply, so the market definitely has improved.
Today, sellers are receiving 97.9% of the listing price. It hasn’t changed much compared to last year’s 97.8% average. However, five years ago, it was 92%!
The fourth quarter isn’t too late to buy or sell! We’d be happy to meet with you soon. There’s a window of opportunity to take advantage of. If you have any questions, give us a call today!
