Sunday, April 12, 2015

Crow Wing County Monthly Market Report

March was a strong month for the housing market in Crow Wing County.  The number of new homes on the market increased in March by 31.1 percent, over this period of time last year. This is great news for the buyers out there who have been looking for their ideal home, but struggling as a result of decreased housing inventory. Even with the surge of inventory hitting the market the number of months supply of homes for sale continues to be lower than ideal. Now is the perfect time to consider selling your Crow Wing County home.

The number of total homes sold last month rose slightly when compared year-over-year. However, pending home sales surged by 31 percent in March. This is a strong indicator of the number of closed sales we will see in the next few months to come.

The median sales price of homes continues to increase, last month the median sales price increased year-over-year by 8.4 percent to $151,700.  The average sale price in March was $181,384. Not only are homes selling for more they continue to spend less time on the market than they did in 2014. The average days on the market for March was 98 days, down 26.3 percent over this time last year.

The spring housing market will be in effect before we know it.  If you are looking to buy or sell a home in 2015, contact me, Bill Grunewald. My team and I enjoy helping folks like you find just the right spot to live your northern Minnesota Lake Country dream.

Bill Grunewald/ Edina Realty.

Licensed in Minnesota/ Lic # 20204156