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Luxury Realty, Inc. Blog

Metro Pending Sales Take Another Jump

March 12th, 2007 9:55 PM

Pending sales (properties that have sold but not closed) took another jump last week (ending 3/11/07), and are at their highest point in many months. They were up over 800 for the first time since October, 2006.

This is good news for sellers looking for market stabilization, as it shows that there are an increasing number of buyers in the market.

Posted by Chris Cowen, Realtor/Managing Broker on March 12th, 2007 9:55 PMPost a Comment (0)

Existing Home Sales Up in February - Highest in 3 Years

March 25th, 2007 6:17 PM

According to the National Association of Realtors, Existing Home sales saw another increase last month, with the largest gain in three years. This is the most sales in a month since last April. More news that the market is rebounding and buyers are seeing more competition in the marketplace.

Posted by Chris Cowen, Realtor/Managing Broker on March 25th, 2007 6:17 PMPost a Comment (0)

March 3rd, 2007 10:12 AM

Sellers Use Agents More Often Than You Think

Just 12% of home sellers last year opted to go the For Sale By Owner (FSBO) route – down from 13% the previous year and 20 percent in 1987. But, this only tells part of the FSBO story -- 40% of FSBO transactions in 2006 were closely held transactions (the buyer and seller knew each other). Factor out the properties kept off the open market and the actual FSBOs portion is only 7 percent. Source: NAR.

In this market, having your home listed by a professional Realtor^® is more important than ever. Contact us for free info on how we can help you.

Posted by Chris Cowen, Realtor/Managing Broker on March 3rd, 2007 10:12 AMPost a Comment (0)

Market Stabilizing

March 1st, 2007 2:24 PM

The National Association of Realtors reported this week that existing home sales in January increased 3% over December's rate...the largest increase in 2 years and the highest level since June, 2006.

Adding to this good news, locally, in the 13 County Twin Cities Metro Area, "Pending" sales have increased each week (except one) since November and are more than 5x December's level as of 2/25/07. Pending sales are properties that have sold but not closed, which is considered the best/most recent market indicator.

This is good news for sellers especially...as it shows that the market is becomming more balanced.

Let Luxury Realty, Inc., help you take advantage of market conditions.

Contact us for a free consultation on your real estate needs, whether it's buying or selling a property locally, or investing in real estate nationally.

Posted by Chris Cowen, Realtor/Managing Broker on March 1st, 2007 2:24 PMPost a Comment (0)