Whether you are considering selling a home or buying one in Stillwater, MN it is important you have a basic understanding of your local housing market.
Information related to the current month’s supply of inventory homes will determine whether it is a sellers’ market or a buyers’ market. The basic supply and demand rule dictates whether the housing market is stagnant or if there is home value appreciation. The price you offer on a home purchase can be dictated by the current market conditions in order to successfully secure the home. As successful and experienced Realtors, John and Becky Durham have 36-years of combined experience have a business model that differs from other Realtors. They see the value of taking time to research and extrapolate the Stillwater, MN housing market statistics. By doing so, it allows them to fully understand what is transpiring in the housing market. As a result, they are able to educate and provide this information to their clients and the public. Providing consumers factual and timely information allows them to make well thought out decisions on whether this is the best time to either sell their home or to buy a home. Similarly by performing this research it provides John and Becky an advantage over other Realtors as we can better advise our clients during the course of a transaction.
The graph below shows the average sales price change and the median sales price change in Stillwater, MN during 1st Quarter 2020 vs. 1st Quarter 2019.
It is currently a sellers housing market in Stillwater, Minnesota! Subsequently, you see an appreciation in both the change in the average sales price as well as the change in the median sale price. With interest rates historically low this appreciation should not deter buyers as it is a very favorable time to purchase a home and to lock in interest rates. With such favorable home interest rates a Stillwater Minnesota home buyer likely will save tens of thousands of dollars over the life of their mortgage if not literally hundreds of thousands of dollars.
The following graph shows the change in new listings as well as the change in closed sales for 1st Quarter 2020 in Stillwater, MN vs. 1st Quarter 2019.
This graph provides home buyers and sellers critical information on which direction the Stillwater, MN housing market inventory supply is heading. Will it be a balanced housing market, sellers market, or a buyers market? In the graph below you see significantly more new listings and closed sales taking place in Stillwater, MN to date in 2020 compared to the same time in 2019. What this ultimately will mean, should this trend keep up in 2020, is it will become a balanced housing market inventory before long. Information like this is invaluable to the general public and should help sway consumers should they be sitting on the fence about whether to enter the housing market in 2020. Having and understanding the value of this information could possibly make a difference in thousands of dollars at the closing table for the home seller or buyer.
The following graph shows the change in original list price ratio to sales price and also the change in the number of days a property is on the market in Stillwater, MN in 1st Quarter 2020 vs. 1st Quarter 2019.
The original list price to sales price ratio is an important housing statistic, but it also can be the most misinterpreted housing statistic by the general public as well. Good marketing certainly makes a significant difference in the list price to sale price ratio, but even more important is a realistic list price. Factors to also consider include is the showing condition and location. Sellers initial list price decision is vital and frequently will not only impact a home’s cumulative days on market, but it will also impact the original list price to sale price ratio. Hiring excellent and experienced Realtors and following their suggested list price ‘based on factual and current comparable homes on the market‘ and integrating this information with the current housing market data should be factored in when determining an initial list price.
If you are considering listing your Stillwater, Minnesota home for sale, you need skilled and experienced Realtors who know how to price your home correctly. Having a home on the housing market too long because of selecting the wrong list price will only affect your bottom-line once you finally sell. Pricing the home less than it is worth only benefits the buyer and not the seller leaving money on the table. Asking too much means your house will likely linger way too long on the market while other homes sell. When most sellers over-price their home they usually do not consider the home would likely never appraise, even if an offer is accepted. Upper bracket homes always spend more time on the market and require an agent with more skill, experience, and advanced technology. John is a Certified Luxury Home Marketing Specialist and Becky is an accredited home stager, offering their luxury home expertise in these areas to all their clients regardless of list price at no extra fee. We do more than our competitors and appreciate the opportunity to discuss what we do so we can prove it!
Want to know the home value of your home for FREE without any commitment? Click on Stillwater MN Home Values and input your information to get current and monthly home value information.
Stillwater, MN Home Buyers:
If you are a home buyer in Stillwater, MN you need a buyer’s Realtor who is available to show you homes the day they hit the market. A Realtor who will help you submit a well written and thought out offer that gets accepted. John and Becky are a husband/wife real estate team that offers you two Realtors for the price of one. Meaning one of us is usually accessible to show homes on short notice. Click HERE to search the MLS for homes and sign up for instant email alerts when a home that meets your desired criteria hits the market. When you see a home you like, let John and Becky know and they will quickly schedule a showing for you!
Why should you choose John and Becky Durham as your Stillwater Minnesota Realtors?
Because they work together with every client! When you work with John and Becky Durham, you get two experienced Stillwater, MN real estate agents working for you. You will get the time and attention you need to seal the deal on your dream home. John and Becky have 36 combined years of real estate experience and are exceedingly talented at what they do.
Want to know the home value of your home for FREE without any commitment? Click on StillwaterMNHomeValues.com and input your information to get current home value information.
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