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Twin Cities Sudden Buyer's Market

In just a few short months we’ve seen the number of houses available for sale per buyer (8.64) climb to levels we have not seen since late 2008 and up a whopping 63% from August last year!

August 2010 Supply Demand Ratio - Twin Cities

With buyer demand having slackened so substantially after the tax credit expiration even a relatively normal amount of houses for sale are spread amongst far fewer buyers, giving buyers more choice (and in theory more negotiating power) than they have had in some time.  Normally we see spikes in the SDR in the November & December time frame as buyers hibernate over the holidays and cold & dark nights.  Instead of the normal calendar cycle we instead have the chill brought on by the aftermath of a couple years of extraordinary housing stimulus.

We will likely see home prices fall some in response to Buyers’ new found leverage but how much and how quickly remains to be seen.  I wouldn’t be surprised if we gave up all of the median sales price gains from earlier this year by the end of this year.

Shameless Plug:
Looking to buy or sell a house?  Take a look at the MLS-listed homes available for sale below or call me anytime: 1-800-941-0959.

Albertville Real Estate
Andover Real Estate
Anoka Real Estate
Apple Valley Real Estate
Blaine Real Estate
Bloomington Real Estate
Brooklyn Park Real Estate
Buffalo Real Estate
Burnsville Real Estate
Champlin Real Estate
Chanhassen Real Estate
Chaska Real Estate
Coon Rapids Real Estate
Crystal Real Estate
Eagan Real Estate
Eden Prairie Real Estate
Edina Real Estate
Golden Valley Real Estate
Hopkins Real Estate
Lakeville Real Estate
Maple Grove Real Estate
Medina Real Estate
Minneapolis Real Estate
Minnetonka Real Estate
New Brighton Real Estate

New Hope Real Estate
Orono Real Estate
Plymouth Real Estate
Richfield Real Estate
Rogers Real Estate
Savage Real Estate
Shakopee Real Estate
Shoreview Real Estate
Wayzata Real Estate

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.