Maple Grove September Real Estate Market Stats

For those of you interested in what Maple Grove’s real estate market did this September here’s a run-down on the market stats:

It could have been our interest rates going up or the end of our summer bubble but last month we slid back a bit. We still sold quite a few houses; we sold 101 houses in Maple Grove, compared to 144 in August, so we dropped down a little bit.  As for inventory, we were about even. This month 149 new houses went on the market. August there was 160 houses on the market.

Price point went down, which was kind of interesting, and that just could be the ebb and flow of different prices of houses we’re selling at different times. We actually dropped almost 17% down to about $248,000 for the average price point. The most important piece of information about the Maple Grove market still is the month’s supply. It is still extremely low, at 3.0, which means there is three months’ worth of inventory out there.  A general rule of thumb is if we are anything below six months we are in a sellers’ market, so you are seeing an increase in prices and multiple offers. That is still exactly the same, we saw that all throughout the summer selling season as well as going into the fall, contrary to the belief that we don’t sell houses in fall. Actually, we sell quite a few houses in the fall and will continue to sell houses throughout the winter.