Maple Grove, October 2013; It was a good month. We stayed on par with last month and had about the same amount of houses sold, 102 houses, 101 last month. October 2012 there were 100 houses sold in Maple Grove. So we’re right at that same number rate there for the fall months.
With regards to inventory coming on the market, in October 2012 we put 116 houses on the market. In 2013, we put 151 houses on, which was a similar number as in September, so more houses are going onto the market.
One of the cool things is the average price point, you know it’s hard to compare average price point month over month because that varies so much with what houses actually sold and closed in the month So, a better indicator is to look at where we were last year to this year.
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Last year, the average sale price in Maple Grove was $265,500, and this year $296,059. So we’re up about 11.5%, which is fantastic. It's a very similar trend to the entire Twin Cities real estate market. The Twin Cities in general year over year for the month of October is up just about 10%. So, great news on the appreciation front.
Last and very, very most important stat is that month’s supply indicator I keep talking about, and what you’re seeing right now is we’re pretty consistent. Last October we were at 3.1 months of supply. September and October this year, were both at 3.0 months of supply. So that’s again telling us we were in a seller’s market, so we’re seeing things like multiple offers, quicker, shorter times on market, higher price points, closer list to sell ratios. Bottom line, now is a fantastic time to be a seller. If you’re a buyer, there is still great inventory coming out, but it's going fast. The good ones (meaning move in ready condition and priced right) tend to go very quick in these markets.
