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Health & Fitness

Maple Grove Real Estate Market Stats April 2013

Steve Wilhelmy, a local licensed Realtor with Keller Williams Classic Realty NW gives us a snapshot of what the Maple Grove real estate market did in April.

April of 2013 was an interesting month. It’s kind of been the winter that never gives up as I'm sitting here on May 3rd, and I see it’s snowing outside. You all know what that’s like! Here's a glimpse at what real estate was doing last month here in Maple Grove:

Last year in April, we sold 98 houses, and this year 99. In March there were only 83 homes sold, so you can kind of see the psyche responding to the warmer weather. People tend to want to get out and look at houses more as the weather warms up.

In regards to the houses going onto the Maple Grove market, last year it was 153 houses in April, and this year we are up 14% with 175 homes listed.

Find out what's happening in Maple Grovewith free, real-time updates from Patch.

So, if you put that inventory and sold stuff together, you end up with a month’s supply number. Last year this time we were at 4.0, and this year we are at a 2.6. Anytime you are below 6.0, you are in a seller’s market. That being said, we are in what I would call an extreme seller’s market right now. What you’re seeing in an extreme seller’s market is houses that are ready to go, staged right, all cleaned up, and priced right, are receiving multiple offers very quickly out of the gate, and many times offers above the list price.

Price points in Maple Grove are just kind of lying flat. We are within about a thousand dollars of the average price from March at $244,086. We are down a bit from last year.

Find out what's happening in Maple Grovewith free, real-time updates from Patch.

Another indicator of the health of the market is the amount of properties that are being sold through an REO or a short sale process, or what we call a distressed sale. That is still hovering at 31%. Obviously, we’d like to see that number moving down, but it’s hanging right around that point. We pretty well match the Twin Cities in general for the number of transactions that involved distressed properties.

 

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