Home Sales in Stillwater, Minnesota
February 2010 statistics for home sales in Stillwater Minnesota were released last week and I wanted to blog about them because I'm seeing what could be the beginning of an interesting trend.
Even in the face of increased short sales and foreclosure sales, we have good numbers year to date. For example, new listings in Stillwater, Minnesota are up 9.3% year to date. At the same time, closed home sales in Stillwater, Minnesota are up just shy of 18%!
Personally I think this is the beginning of what economists call "pent up demand". In other words, people's lives keep going despite the economy or the unemployment rate, and they have a need to buy or sell due to the changes they have in their life.
For example, I have a friend who is newly married and just found out he and his wife will be having twins! Out goes their condo and they're now in the market for a 3 bed 2 bath single family home.
While my friend must sell, he still wants expert counsel on improving the condition of his property and he needs an excellent marketing plan to get his property in front of the maximum number of people so he doesn't have to rely solely on price to motivate a buyer. The MLS and a yard sign will bring a sale 48% of the time but the internet and other advertising combined with creative tactics bring the sale about as often. He relies on the marketing and condition of his home to help sell it for more money.
Further support for cautious optimism, The Median for home sales in Stillwater, Minnesota is also up 18% year to date to $255,000 and the Average sale is about flat at $240,871. That is something to be said considering there were more sales contributing to that average.
The final numbers contributing to this positive trend for home sales in Stillwater, Minnesota are the percent of original list price received at sale, which is up 4.1% and the average days on the market, which is down 4% to 155. That's just over five months!
If you live close to Stillwater, Minnesota and want to know the statistics for your town or if you want to see how your home compares to the averages send me an email at firstname.lastname@example.org or click on our website: www.NateGerard.com.