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You’re busy – planes to catch, open homes to see and little league games to coach. But in less time than it takes to lint roll a favorite set of slacks, you can catch up on the most up-to-date and local housing market trends. Don’t clutter your brain with big data that has muddled together home sales from across the county. Get ahead of the curve by zeroing in on your region’s market and nothing else. Read on for the good stuff.
In the Twin Cities region, for the week ending May 11:
• New Listings increased 25.1% to 1,858
• Pending Sales increased 16.2% to 1,305
• Inventory decreased 27.5% to 13,556
For the month of April:
• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.7% to 95.9%
• Months Supply of Inventory decreased 36.0% to 3.2
By: Cara Greenberg
Wouldn’t it be nice to approach your home’s entrance with a grin instead of a grimace? Take our tips for beating a clear, safe, and stylish path to your front door.
First impressions count — not just for your friends, relatives, and the UPS guy, but for yourself. Whether it’s on an urban stoop or a Victorian front porch, your front door and the area leading up to it should extend a warm welcome to all comers — and needn’t cost a bundle.
Here’s what you can do to make welcoming happen on the cheap.
1. Clear the way for curb appeal. The path to your front door should be at least 3 feet wide so people can walk shoulder-to-shoulder, with an unobstructed view and no stumbling hazards. So get out those loppers and cut back any overhanging branches or encroaching shrubs.
Housing data also encompasses economics, politics, sociology, geography, labor markets and more. Even the largest transaction most people will ever make is susceptible to the same kinds of market forces that affect clothing choices at your favorite department store, the cost of your vacation, public transportation projects and where the next Starbucks is placed (or closed). Be watching the jobs numbers, fuel prices and election results. And keep using the best source of housing data around: your local MLS.
In the Twin Cities region, for the week ending May 4:
• New Listings increased 10.7% to 1,825
• Pending Sales increased 17.2% to 1,404
• Inventory decreased 28.0% to 13,361
For the month of April:
• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.7% to 95.9%
• Months Supply of Inventory decreased 38.0% to 3.1
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Author:Brendon DeSimone
Many people shopping for real estate today are younger than previous generations of home buyers, and they’re extremely tech savvy. They grew up with smartphones, apps, and Google searches. And they want to use technology not only in their search for a home but throughout the home itself.
A recent survey by Better Homes & Gardens Real Estate shows that 77 percent of Gen X & Gen Y home buyers want their homes “equipped with the technological capabilities they have grown accustomed to.” And it doesn’t stop there. This new generation of home buyers is “rewriting the rules to home ownership and reinterpreting traditional norms to fit their values,” says Better Homes & Gardens Real Estate.
These aren’t your standard-issue young home buyers from 30 or 40 years ago, who were often married couples looking for a starter home in the suburbs to raise a family. Today, single women make up a large percentage of first-time buyers, as do gay couples and the always-connected mobile professional.
As the home buyer evolves, so does the home. Here are five major shifts in homes you can expect to see today and in the coming years
1. Man Caves and Smart Homes
The media room or “man cave” emerged in real estate marketing a few years back. Many buyers now prefer high-tech rooms with surround sound, large-screen TV’s, and the most up-to-date A/V equipment to the coveted formal dining room of a generation’s past.
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