This week we wanted to provide an update on the housing market in Edina and throughout the Twin Cities. Things are starting to look up in the real estate industry, and for you this may mean that it’s time to sell your current home and build your dream one!
Eric Nelson here at REFINED shares: “The demand for housing in Edina continues. The market has already started to heat up as several existing and new construction homes have sold. These homes are selling fast and in some cases with multiple offers. The current lack of inventory and incredible interest rates are a driving factor. REFINED has anticipated the needs of this market place and is positioned to provide solutions for today’s buyers.”
January 2013 Market Stats for the Twin Cities show:
- New Listings in the Twin Cities region decreased 6.2 percent to 4,799
- Pending Sales were up 13.3 percent to 3,456
- Inventory levels shrank 32.2 percent to 11,977 units
- Prices rallied higher and the Median Sales Price increased 14.3 percent
- Days on Market was down 24.1 percent
And in our focus area of Edina specifically, compared to January of last year, this January there was a – 37.5% change in new listings, and a + 15.0% change in closed sales.
If you are looking for the opportunity to custom build the home of your dreams, we are ready for you here at REFINED. We have one home near completion at 5504 Lakeview and another starting at 4524 W 56th St., both in East Edina and available for purchase.