Should I list my home now?

Should I list my home now, or wait until Spring?

Should I list my home now, or wait until Spring?

I’m sure it’s the most commonly asked question between January 20th and March 1st!  The answer is short and easy this year, List it now, List it now, List it now!  I am confident this is the right answer because of 4 things.

1. Low inventory! Our current level of inventory is lower than it has been since 2006.   The number of active listings dipped to 18,000 (+/- a few hundred) in 2005.  We currently have 19,000 (+ a few hundred) homes actively listed on the market.  Compare this level to 2008 when we reached 48,000 (+/-) active listings.  This data is for the entire area covered  by the Northstarmls system.  The MLS covers a lot of geographic area including the entire 13 county Metro area.

Should I list my home now in Burnsville?

This Beautiful Two Story in Burnsville just listed today! See photos in the featured listings.

2. Weather! Our unseasonably warm weather makes for happy home buyers!  Buyer activity in the South of the River suburbs is picking up.  Buyer activity usually increases noticeably during February and into March.

3. Beat the Foreclosure Wave! There are reports of large volumes of Foreclosures coming to the market soon!  These reports stem from the ‘Ropo-signing’ incident last year.  Many banks halted their foreclosure processes or slowed them down considerably to be sure they are complying with the law.  This has created a backlog of foreclosures, coming to the market soon.  I did read an article recently which said the way foreclosure homes are counted inflates these numbers. I’ll summarize that in a post soon.

4. Get Feedback! Listen to the feedback your home receives from potential buyers and make needed adjustments !  If you list your home sooner, you will have the added benefit of hearing the feedback from buyers and your listing agent.  This allows you to correct any conditions, expand the marketing or adjust the price before the surge of Spring Market buyers has peaked.  Read my previous post about Listen to the Feedback for more information.

Inventory Levels for our South of the River area look like this: (using all Active listings on Feb 1st, 2012 and using the number of homes Sold and Closed between Feb 1st – April 30th in 2011)

Homes for Sale in Apple Valley  221               Homes Sold in Apple Valley last year    157
Homes for Sale in Burnsville        227             Homes Sold in Burnsville last year         178
Homes for Sale in Farmington     140             Homes Sold in Farmington last year       104
Homes for Sale in Lakeville          272             Homes Sold in Lakeville last year            168
Homes for Sale in Eagan                217             Homes Sold in Eagan last year               147
Home for Sale in Prior Lake         223             Homes Sold in Prior Lake last year        98
Homes for Sale in Savage              137              Homes Sold in Savage last year              89
Homes for Sale in Rosemount     82                Homes Sold in Rosemount last year      78

This is a promising picture, the number of Homes Sold represents 3 months of buyer purchases.  If we have as many buyers in Apple Valley this Spring as we did last year, we will sell 70% of the current inventory!

Each day new homes will be listed for sale, changing this chart rapidly.  I’ll be curious to compare the number of Homes Sold South of the River in Spring 2011 to Spring 2012.

If you would like to know How Much your Home is Worth, let me know and we will be happy to get you on our schedule for an evaluation.

Read what Sheryl’s clients say about working with Sheryl and the Selling South of the River Team!

Click here to Search for all homes listed in Apple Valley!

Click here to contact Sheryl if you would like her to “Sell my Apple Valley Home!

Merry Christmas and Happy New Year!
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