Hey Ben, How’s the Market?
Someone asked me if it feels like the market is changing?
It does feel like it, the number of showings has been down, and there were about 5,500 closed sales in the Twin Cities in September, close to 1,000 fewer than the month before. In actuality, it only feels like it though because we’re still comparing to earlier this year when there seemed to be multiple offers on everything.
For a better perspective, the 5,500 closings in September were 5% more than September of 2015, and 15% more than September of ’14. We’re doing just fine!
New construction numbers continue to press upwards as well and we’re keeping a close eye out there, pending sales are on pace for double digit gains. If the 4th quarter of this year looks anything like last year, we’ll be pleased with it and regardless of what happens this quarter, 2016 will go down as a great year for Twin Cities real estate.