LOCAL REAL ESTATE MARKET UPDATE

Polk County and St. Croix County

While the housing market continues to shift with rising mortgage rates, increased inventory and as we move into the last quarter of 2022, is it still a good time to buy or sell?

With the state of the housing market quickly changing I can see how confusing it can be if you are a seller or buyer trying to decide if NOW is the right time to buy or sell. I am here to break down what’s happening in the real estate market here in both St Croix and Polk County, so that you can make the best decision when it comes to probably one of your largest assets which is of course.... your home. 

If you want to see a series of current videos breaking down what’s happening in the real estate market for buyers and sellers, go to:

https://minnesconniehomes.com/CustomMarketProposal-page

Let’s take a look at what’s happening in Polk county!

In September, there were:

• 159 active listings

• 85 being NEW listings

• 57 homes pending

• 57 homes SOLD

• Average sales pric: $318,000

• Average Days on Market: 61 days.

In St Croix County:

• 329 active homes on the market

• 173 being NEW listings

• 105  pending sale

• 117 homes SOLD

• Average sale price: $392,000

• Average days on market: 51 days

What these numbers show is that inventory is roughly the same, maybe slightly up from this same time last year, however homes are taking a little longer to sell.

Another detail to note is that there are less showings being requested when homes come on the market, and in addition to that, it's taking more showings before receiving an offer on a home. Meaning there isn’t this mad rush anymore when a home hits the market with 30 showing reequests and 10 offers on the table in the first day or two for example.

A changing market is no surprise to us with rising interest rates, and it’s normal that homes are staying on the market a little longer. People will still need to both sell and buy, so with the constant shifts, you need an experienced agent to help guide you through your next moves in real estate.

Connect with me to get any questions answered and we can strategize about what to do with your home. 

And again, If you want to see a series of current videos breaking down what’s happening in the real estate market for buyers and sellers, go to:

https://minnesconniehomes.com/CustomMarketProposal-page

Thanks for popping by!!!

~Jamie Fahrenkrug

Minnesconnie Homes