"…..We can still see that home sellers were far more active than home buyers for the week ending April 24, continuing a recent trend. There were 2,147 new listings during the week, an increase of 19.1 percent from a year ago. That's the seventh week of the last eight to show double-digit percentage increases in new listings.
Signed purchase agreements were also up but in a less extreme fashion. The 1,184 pending sales for the week were a 9.8 percent increase from a year ago. As a result of the growth in new listings, we're projecting that the Supply-Demand Ratio for May 2010 will be 5.69 homes per buyer, a healthy balanced number but a smidge higher than the 5.23 mark of May 2009.
Why point out such a subtle difference? Because that would be the first time we have seen a year-over-year increase since June 2008."
We are seeing a similar trend in West Savage. Home sales are continuing to pop up but not as fast as new listings. New construction just to the west of us in Shakopee is a lure for buyers, albeit the neighborhood feel is substantially different in those areas. Still, buyers looking for $280K and up are consistently exploring new construction.
Sellers must position themselves well in this market, and sometimes, as a seller, that means thinking like a buyer.
Comments