Weekly real estate market update 5/3/24… new listings continue to be higher than last year

After watching new listings fall the last three years it is heartening to see new listings continue to hover over last year’s levels.

Showing activity is steady, but below last year.

Pending sales and multiple offers continue to stick together as price reductions and homes coming back on the market rise… due to any number of factors, including financing falling apart due to insurance issues.

Wondering what an increase in new listings means when you sell your house? Just as fast food restaurants cluster together in a symbiotic relationship, so do multiple homes for sale help each other… giving buyers more choices and generating more activity. Read more about it in the article below from our blog at Keeping Matters Current.

Sharlene Hensrud, RE/MAX Results – shensrud@homesmsp.com

Blog Image

For Sellers, Inventory, Selling Tips

The number of homes for sale is playing a big role in today’s housing market. And, if you’re considering whether or not to list your house, today’s limited supply is one of the biggest advantages you have right now. That’s because your house stands out more when the inventory is low, especially if it’s priced right.

But the supply of homes for sale is growing. According to the latest data from Realtor.com, new listings (homeowners who just put their house up for sale) are trending up (see graph below):

No Caption Received

This graph shows more homeowners are putting that sale sign up in their yards compared to the same time last year. As Realtor.com says:

“. . . sellers turned out in higher numbers this March as newly listed homes were 15.5% above last year’s levels. This marked the fifth month of increasing listing activity after a 17-month streak of decline.”

What This Means for You

If you’ve been putting off selling your house, maybe it’s time to start thinking about it again – before your neighbors do. While we’re not going to suddenly have a surplus of homes for sale, each house that pops on the market in your area runs the risk of pulling buyer attention away from yours.

For example, if your neighbor gets in on the action and lists their house too, it means you’ll have competition right next door. You don’t want buyers to tour your house and fall in love with someone else’s. You want yours to be in the spotlight.

A great agent can make that happen. They’ll help you get your house ready to list, draw attention to everything today’s buyers are looking for, and help you price it right. That way buyers are really drawn to your listing and eager to make it their home.

If you’re ready and able to sell now, here’s your chance to get the best of both worlds. Since the supply of homes for sale is growing, you’ll have more options for your own move. But you’ll also be able to sell while your house will still stand out.

Bottom Line

Even though inventory is still low, you don’t want to wait for more competition to pop up in your neighborhood. Let’s connect to go over the perks of selling before more homes come to the market.

Written By

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

Related Posts

Weekly real estate market update 5/24/24… more listings coming soon

đź–¨ Print Article When new listings dip as they have this week it can be a concern whether the supply of homes for sale will drop as well, especially when...

Memorial Day 2024… what it’s about and things to do this weekend

🖨 Print Article When we first visited Fort Snelling National Cemetery I wasn’t prepared for was how moving the experience would be… spending time in the midst of a sea...

Subscribe to Our Newsletter for Market Updates & Mid-Century Modern Listings

Our weekly HomesMSP Update includes current local market information and a curated list of mid-century modern properties for sale, plus posts from an inspector, a lender, a stager, info about neighborhoods, life in the Twin Cities… even recipes!

Hidden

Blog Categories

Archives

Sharon and John Hensrud

About Us

The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.