Lowest Inventory Levels in Years in the Twin Cities Marketplace
January 13, 2010
Real Estate Tip: If your thinking of selling your home, this might be the right time to get it on the market. Inventory is at an all time low. For the first time in four years, the active listing inventory dropped below 20,000 units in the Twin Cities. Inventory is at its’ lowest point since April 2005 and is 22% below last year at this time. These statistics means there are 5 months of supply, and less then 2 months of supply for properties valued under 200K.
If inventory levels remain low through 2010, our road to recovery is just around the corner. Real estate values are based on supply and demand and if the supply is low and rates remain low, we should expect to see recovery and stabilization in home values this year.
If selling your home is a probability for you in the next year or two, this might be a good time to connect with Realtor and ask for an updated value on your home, do the numbers and see if it’s time to make the move. Take advantage of the low inventory, low-interest rates and home buyer tax credit and make it your year to move.
Please register on my website for a market analysis: http://mnrealestatedirect.com/home_worth.php
