Showings are still 20% ahead of last year at this time, which is in keeping with the trend both before and after the coronavirus shutdown. It is interesting how in sync the overall trend this year is with last year as stats rise and fall with the seasons.
New and coming soon listings slumped down a bit while pending sales increased a bit… also typical for this time of year.
The overall inventory from the chart below from Minneapolis Area Association of Realtors is a couple weeks behind my numbers above which were pulled this morning, but it shows how last year we were encouraged by an increasing inventory while this year the supply is hanging low.
If you are thinking of selling this fall, be careful how you price your home. Of course, pricing is always important but with such a strong year it can be easy to still price for a rising market. Showings are dropping as is typical at this time of year. One would expect prices to start sliding as well as is typical even though inventory is at a premium. There may still be competition but expect it for homes priced a bit low rather than higher than the competition. Buyers are not as likely to be afraid of multiple bids if they feel the price isn’t already high.
from our blog at Keeping Matters Current
![Why Pricing Your Home Right Matters This Fall [INFOGRAPHIC] | Simplifying The Market](https://files.simplifyingthemarket.com/wp-content/uploads/2020/09/24162130/20200925-MEM.jpg?a=189761-ef3ff6130d2f42620c5d655859487f08)
Some Highlights
- As a seller today, you may think pricing your home on the high end will result in a higher final sale price, but the opposite is actually true.
- To sell your home quickly and for the best possible price, you should eliminate buyer concerns by pricing your home competitively right from the start.
- Contact us to make sure you have the guidance you need to price your home right this fall.
Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com
