March Market Report
You might be considering a move. While your current home provided you with the space and amenities you needed, now you’re realizing that you’d like to simplify and purchase a home that’s much more manageable. As you prepare to move, you want to make sure you’re making the right decisions.
For most of us, our home is our most valued asset, so it’s important to stay up to speed on the things that affect your investment. As you prepare to make this transition, you deserve insight and guidance from an expert in your local market. Here are the things you need to know about the Lakeville real estate market right now:
Home Are Sitting a Bit Longer.
As we know, with the fantastic school district that Lakeville provides, homes are in high demand, however, the average number of days a home sat on the market in February was 30—that’s a 100% increase from 15 days in January. Earlier last year, from April through July, homes had offers in 6 days or less. Around this time of year is often the best time to list if your concern is selling your home quickly. With guidance from a local real estate expert that can provide a reliable pricing strategy, you can generally expect to sell fast and for a nice return.
We Continue to See Multiple Offers.
Homes are continuing to get offers accepted over list price and the median list price continues to rise. Over a single year, the number of people that listed their homes dropped by 32%. This is a driving factor in the increase in median sales prices. Currently, the median sales price in Lakeville is over $484,705 —a 13.9% increase from January 2022. To maximize the opportunity in this market, you want to work with a real estate professional who understands how to properly position your home on the market.
Buyers Are Searching All Year Round, Heavy Competition Will Come in the Spring
The Lakeville market is still very hot. The number of buyers willing to make multiple offers on homes shows that people are eagerly searching. It is a wonderful time to list your home. Buyers who left the market are reentering due to the expected new spring inventory. With the right strategy, you can maximize the returns from your home sale.
As a homeowner, what does this mean for you?
If you are thinking about selling within the next 12 months, now is the time to prepare.
You deserve to have an expert walk you through the needed steps to get your best ROI and get your home sold quickly. You have worked hard to maintain your home and you’re right to want the best experience. With my professionalism, reliability, and fierce negotiation strategies, we’ll get you the highest possible return so you transition to your next home with ease.
If you’re thinking about selling in the next 12 months, call today for your Strategic Marketing Consultation → 612-454-9151
We’ll discuss your goals, how you can take advantage of this market, and if it’s the right fit, the next steps from there.
Call Today → 612-454-9151
License # 40698700
Coldwell Banker Realty
|Single-Family Home Stats||February
2021 vs. 2022
|Median Sale Price|| Up 13.9%||Median sale price is now at $484,709, up 13.9% from $465,000 in February 2021. When you price correctly from day one, you can maximize offers and ultimately sell for the highest possible price.|
|Median Days on Market||↓ Up 53%||The median days on market is still exceptionally low at 7 days in February. Current high demand and low supply play a key role in this. With strategic pricing and the right marketing, you can ensure your home sells quickly.|
|Sale-To-List Price Ratio||↑ Up 1.1 %||Correctly priced and strategically marketed homes are selling for asking price and above. The sales to list price is now at 101%, up 1.1% from February 2021. Now is a great time to work with an expert to capitalize on the equity you’ve built and reinvest it in your next home.|
|Price per Square Foot||↑ Up 11.8 %||Since February 2021, the average price per square foot increased by 11.8%—from $161 to $180. To maximize your results, it’s extremely important to have a proven strategy and expert guidance from the beginning.|
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