By David Garves, Associate Broker
I've always tried to keep this blog strictly Real Estate driven, however there are two exciting things going on this week that are worth mentioning on any Maple Grove Blog:
Find out what's happening in Maple Grovewith free, real-time updates from Patch.
- 1 - The Crimson Football team continues to play at an exceptional level and is currently undefeated and ranked #2 in class 6A. Good luck for the remainder of the season Crimson.
- 2 - Chick fil A opens it's doors in Maple Grove tomorrow (October 10th) in the Fountains.
OK, on with the statistics on Maple Groves Real Estate market for September 2013.
SUPPLY numbers continued to increase in Maple Grove for September compared to 2012. There were 149 new listings hitting the market which was a 7% increase over last years listings. Prices of the new homes hitting the market stayed fairly flat with an average list price of $277,408 compared to last years average listing price of $273,641. While supply/demand economics fear the increase in demand, the increase in listings has been a welcome change in this market as supply has been so low most of the year.
Find out what's happening in Maple Grovewith free, real-time updates from Patch.
DEMAND numbers continue to impress relative to last years numbers. While September 2012 cooled quickly with only 88 homes sold, this years market continued to take advantage of the low rates and affordable prices, bringing 105 new home owners into Maple Grove.
( See Table Below)
SALES PRICE for sold homes in September shows the first possible chink in what's been a mighty strong supply of data recently. It's the first red ink we've seen in the Maple Grove market for some time, with a significant drop of nearly 12% in the average price of sold homes. While most of this seems to be the result of a return to the Town Home/Condo buyers who accounted for 45% of Septembers sales last month compared to only 28% for the same time in 2012, it's worth keeping an eye on this number as it's the lowest September Avg. Sales price in 10 years.
( See 10 year Chart )
Jobs market data, rising interest rates, government shut downs and debt ceilings continue to loom over the market as if to scare the market into Halloween, however fewer and fewer Bank owned homes and Short Sales having an effect on the market - it seems we are at least getting back to letting buyers and sellers determine how scary the market will become. Nationally, Locally and within Maple Grove we continue to see recent home buyers happy with the price they paid, and buyers who purchased only a few years ago having equity in their homes if they choose to sell, or move up. From a personal perspective, it's much more fun doing Market Analysis' today than 5 years ago.
David J. Garves - www.maplegroverealestateinfo.com
Want to do your own research? Get the latest info @: www.dgarves.themlsonline.com
