A Mid-Year Market Update for St. Cloud

Our summer market has been great so far, and that trend is expected to continue into fall. Let’s take a look at the numbers.

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Now that summer is ending and we’re about halfway through the year, it’s the perfect time for a look at what’s going on in our St. Cloud market. 

Recently, I’ve received a lot of calls from people asking if it’s too late for them to jump into a real estate transaction. The truth is: no. 

Though summer markets are notoriously hot, this fall market is set to be excellent, as well. 

In the last six months, 1,621 homes have sold in our local market. With 3,200 families making a move, this has been a very good year so far. 

The current 363 pending sales we’re seeing today is down only just slightly from March, when that number was 452. 

Within a 20-mile radius of St. Cloud, there are 962 homes on the market. Compared to the 640 homes on the market we saw in January, this is a significant growth. 

With a good selection of homes, a market time between two to eight weeks, and interest rates at record lows, our current market holds a lot of great opportunities for buyers and sellers alike. 

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Our current market holds a lot of great opportunities for buyers and sellers alike.

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If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Should You Trust Zestimates?

Zillow and its Zestimates have become a common topic of conversation. Here’s what you should know about them.

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One of the most common questions I’ve been receiving lately is: “How accurate is the Zillow Zestimate?” 

Every time we do a market evaluation on a home, we pull up its Zestimate and we are also pulling up recent comparable sales numbers. After reviewing dozens of these Zestimates and comparing them with the home's actual market value, I have a few thoughts about them.

The first is that they are extremely good at analyzing large amounts of data. If you had 10,000 homes as a sample size, the numbers would be right on the money.

However, when it comes to individual homes the numbers aren’t as accurate. In fact, they are off by 15% to 22% nearly 70% of the time. It’s a good tool to use when you’re just starting the process, but when you’re trying to come up with an actual list price for your home, there is a much better way to determine what that price should be. 

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We can get you an accurate home valuation.

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If you have any questions about the value of your home or if you or someone you know is looking to make a move, don’t hesitate to give me a call or send me an email. I would love to hear from you.

What's Going on in the St. Cloud Real Estate Market

What's going on in the St. Cloud real estate market? I've got a quick update for you.

Looking to buy in St. Cloud?  Get a full home search

 Looking to sell in St Cloud? Get a free Home Price Evaluation

When it comes to the state of the St. Cloud real estate market, I'm happy to report that it's continuing to be very strong like it has been in recent months.

The inventory of homes for sale is a bit low, but has gone up since the first of the year. We have about 864 homes on the market, and interestingly enough, we also have 498 pending sales in our market. 

Compared to last year at this time, we had about 380 pending sales, so sales are strong currently. Inventory last year was about 1,200 homes.

Inventory is good, but it's a little bit tight. As a result, homes are moving quickly. We see quite a few homes sell as fast as a week to eight weeks. The great news in real estate is that interest rates are right around 4% or even better on some days.

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The great news is that interest rates are only about 4% currently.

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If you're thinking about making a move, it's a great time due to low interest rates and good home prices with a decent selection.

If you have any questions, you can always give me a call or send me an email. I look forward to helping you with your move!