West Savage Real Estate Blog

Weekly Housing Market Update - For the Week of February 16

Here's an oldie but goodie: All Real Estate is Local. We've all heard it. It's why industry insiders don t pay much attention to national housing statistics. The national housing market is just an agglomeration of local housing markets.

It's like saying there is a national garage sale market. They're all local. You don't grab an umbrella in Miami based on the weather forecast in Seattle.

So why would someone in San Francisco base a home sale or purchase decision on market data from Boston?  Here's your data for your local housing market.

 

In the Twin Cities region, for the week ending February 16:

• New Listings decreased 4.9% to 1,196

• Pending Sales increased 7.9% to 916

• Inventory decreased 31.0% to 12,309

 

For the month of January:

• Median Sales Price increased 14.3% to $160,000

• Days on Market decreased 24.1% to 107

• Percent of Original List Price Received increased 2.5% to 93.5%

• Months Supply of Inventory decreased 40.0% to 3.0

West Savage Update - February 2013

REALTORS® consider February 15 the opening of spring market.  Sellers typically see it differently – i.e. they associate it with visible greening grass!   The reality is probably somewhere in the middle, and each year it fluctuates depending on the snowfall and the weather.  This year sellers are trying the market early, and for some it has paid off.  Some big homes have sold in West Savage in the past month! 

We are noticing two clear trends so far this year:

1)      The $300K market is moving.   This segment of the market was stagnant during the foreclosure crisis, because as buyers purchased entry-level foreclosures, the transaction essentially “stopped.” i.e. these vacant homes had no sellers to move “up.”  We are now seeing the $300K wheel turning nicely. 

2)      The senior market is very active.  Seniors, particularly the 70+ demographic, are looking to downsize and simplify life.  This is translating into a need for more one-level living townhomes, with or without basements.

Single family inventory in Savage has risen a bit, while townhome inventory in Savage has fallen.  (Perhaps this is a testament to point #2 above.)  Single family inventory Scott County (as a whole) has risen, while Scott County townhome inventory has remained unchanged.   Our West Savage absorption rate is 2.40.   That means if zero new homes come on the market, it will take 2.40 months to sell our existing inventory.  

JUST SOLD! 5BR on 1-Level at 1942 Wilhelm Court - Chad & Sara Huebener, Edina Realty, Lic. MN

JUST SOLD!  If you love entertaining, you’ve just found your home!    With large room sizes and room for expansion, this home is the perfect gathering spot.   The kitchen offers an abundance of 42” maple cabinets, center island, and additional serving countertop.   The dinette walks out to a new deck.    The family room is enormous and accommodates the largest of families.   The main floor also offers formal living and dining rooms, half-bath, mud room and a foyer with open staircase.  

The second floor has 5 sizeable bedrooms, all large enough to hold full sized bedroom sets.  The master suite has a private bathroom with dual sink vanity and separate tub and shower.   

The lower level offers additional room for expansion.   The home sits on a large lot with in-ground sprinkler system and two patios. 

24 Hour Recorded Message   1-800-605-6994   Ext. 580

VIEW OUR ONLINE FLYER or VIRTUAL TOUR. 

For more information on 1942 Wilhelm Court, please contact Chad and Sara Huebener of Edina Realty at 952-212-3597. 

JUST SOLD! 10310 Lee Drive

JUST SOLD!   This 3BR cottage-style rambler is tucked onto cul de sac and offers a vaulted family room w/ fireplace, Stainless Appliances, new flooring and new lighting.  Enjoy an ENORMOUS 2-tiered deck!  The finished basement has built-ins, BR and a 3/4 bath.    This home also has abundant storage and BIG closets!   OFFERED AT $160,000

24 Hour Recorded Message  1-800-605-6994  Ext.  579

10310 Lee Drive in Eden Prairie is proudly marketed by Chad & Sara Huebener with Edina Realty.  For a private showing or to request more information, call 952-212-3597.

 

Weekly Market Activity Report - For Week Ending February 2, 2013

As we take our first gentle steps into the first year of predicted housing market improvement in many years, let's look at why we're feeling bullish. Affordability is high; coupled with historically low interest rates, people are ready to lay their money down. Inventory is generally down, creating more competition among those searching for homes. Desire plus demand has created more frequent tickles
of price rising just as foreclosures and short sales are selling through the market, becoming less of a drag on those prices. The residential real estate recovery is tentative and fragile, but it's still a recovery.

In the Twin Cities region, for the week ending February 2:

• New Listings decreased 9.6% to 1,120

• Pending Sales increased 1.8% to 872

• Inventory decreased 31.4% to 12,213

For the month of January:

• Median Sales Price increased 14.3% to $160,000

• Days on Market decreased 24.1% to 107

• Percent of Original List Price Received increased 2.5% to 93.5%

• Months Supply of Inventory decreased 42.0% to 2.9

JUST SOLD in the Minnesota River Valley - 10738 Cavell Road, Bloomington

JUST SOLD!   This original owner END UNIT townhome features 2 large bedrooms on the main floor.  The master has a generous walk-in closet and a full, adjoined bath with tile flooring.   The main floor has a vaulted family room with new carpet !  The kitchen has new flooring as well.

The walkout lower level is finished and features a family room with a wood-burning fireplace, ¾ bath and laundry.  The home features an attached two-car garage.

This home is tucked into a corner lot with mature trees that provide privacy.  Convenient West Bloomington location!

SOLD at $127,500.  Sold AS-IS.

View the VIRTUAL TOUR for 10738 Cavell Road.

10738 Cavell Road is proudly marketed by Chad & Sara Huebener of Edina Realty.  For more information or to request a private showing call 952-212-3597.

SOLD SUBJECT TO INSPECTION! 7208 Lake Ridge Drive, Savage (Weston Woods)

OFFER PENDING!  

7208 Lake Ridge Drive, Savage

This beautiful 2BR 2BA townhome is located in the Weston Woods neighborhood and has a wonderful open floor plan!  The home features new hardwood floors in the kitchen, new carpeting, fresh paint, a charming four-season porch, deck, and a finished walkout lower level.  

The bathrooms have been updated with premium finishes.  The home features abundant built-ins for warm, inviting touches, and great Savage location!

Offered at $214,900

JUST SOLD - 5.5 Acres in Amberwood! 13700 Nevada Circle, Savage

JUST SOLD!

Welcome to 13700 Nevada Circle in the Amberwood neighborhood of Savage.  This 5 bedroom walkout two story is nestled on a 5.5 acre waterfront parcel on a residential cul de sac.  Ice skate, canoe, sled and drive your ATV in your own backyard!   This is a unique opportunity to own the recreational features of acreage all within walking distance to the elementary school and area conveniences. 

This home features a main floor master suite with a vaulted ceiling and private bath with whirlpool tub, separate shower and a dual sink vanity with a granite surface.   Upstairs you’ll find three bedrooms and a full bath with a granite surface and tile flooring. 

The main floor features a two-story Great Room with built-ins and a gas fireplace.   The kitchen has hardwood floors, 42” raised panel cabinetry, Quartz countertops with five years left on the transferrable warranty, and newer appliances.  The mud/laundry room, a half bath and a 39x24 foot, multi-tiered maintenance-free deck lie off the kitchen.       

The newly finished, walkout lower level features a family room with a wet bar rough-in, gas fireplace, home office with granite surfaces, and a large bedroom.  A ¾ bath with heated travertine floors and a tile walk-in shower lie just off the bedroom.  

View our VIRTUAL TOUR or ONLINE FLYER.  

SOLD AT $530,000.

13700 Nevada Circle in Savage is proudly marketed by Chad and Sara Huebener of Edina Realty.  To request more information or for a private showing, please call 952-212-3597. 

 

SOLD SUBJECT TO 3RD PARTY APPROVAL! 1728 Crestview Street

JUST LISTED!

END UNIT!  2BR 2BA with new carpet, upper level laundry (appliances stay!), and updated flooring. 2 Car Attached Garage and Patio. Convenient Shakopee location!   

Offered at $99,900

1728 Crestview Street is proudly marketed by Chad and Sara Huebener of Edina Realty.  For more information or to request a private showing, call 952-212-3597. 

Chad & Sara Achieve Chairman's Circle Award - Feb 2013

We are pleased to have been awarded the Edina Realty Chairman's Circle Award for our sales in 2012!

This morning Edina Realty management presented us with this award for our sales volume in 2012, where we ranked #1 in the company in Scott County for our home sales in the year 2012.  

We'd like to thank our clients and those who have referred friends and family to us to handle their real estate needs.   We love what we do!  It drives us, each and every day!