Maple Grove Home Sellers taking advantage as home buyers begin to outpace home sellers.

A quick look back over the last 30 days gives us some proof of what the numbers have been predicting for the last number of months.  The market is better for sellers than it's been for years.  For the 30 days from June 15, 2012  through July 15, 2012 there are more homes being sold in the Maple Grove market place, than new homes coming onto the market.

During that time period, 117 new homes* came onto the Maple Grove market while 134 homes were sold or 1.14 homes selling for every new home coming onto the market.  A look at the graph below shows only .45 homes selling for every home coming to market a year earlier. (See Graph 1)

A deeper look into what's happening to the homes when they hit the market shows a similar situation for home sellers over the last three months.  For the time period from June 15th - July 15th, after only about 45 days on the market, only slightly more than 50% of the homes listed remain active without any contingent offers on the home.  Of homes listed 30 days before that, less than 1/3 remain active, and the homes listed a month previous have less than 1/4 remaining active for future home buyers.  (See Graph 2)

Home prices remain being held down as lenders and the appraisers seem cautious to allow values, and the lower priced "bank owned" or "short sale" homes being sold are used to compare the values of a traditional sale.  But with strength like this, it shouldn't be much longer before Maple Grove helps lead the way into a more typical appreciation of Real Estate, and hopefully an actual end to the down Real Estate market we've seen since 2005.

David J. Garves

www.maplegroverealestateinfo.com

dgarves@themlsonline.com

* There where 135 listings in Maple Grove from 6/15/2012 - 7/15/2012 however at least 18 where listed previously and not considered "New Listings".  Only data from that time period reflected previously listed homes.