Hot off the Press: Richfield Market Update for Buyers and Sellers

March 2008

Richfield real estate market continues to slowly wake up this spring. March weather in our area was not the best forour business. Since weekends are usually the time when most people shop for homes, the weather halted that activity a couple of times.

As you see, there are many homes that have been on the market for months now. The total market time of currently active listings ranges from 5 days to whaping 452 days, and the average is 136 days on the market.

Home owners whose homes are currently on the market are seeing an increased showing activity. Our appointment center is noting a significantly higher appointment call volume.

Here is the summary of the MLS data for the month of March:

Currently available for sale: 200 homes up from 193 last month change: +4%

Homes listed during the month: 56 homes down from 70, change: -20%

Pending transactions during the month: 31 homes up from 8, change: +35%

Home sales closed this month: 17 homes up from 15, change: +13%

Market Temperature

Four homes listed this month sold quickly:

1 sold in 1 day - list price $149,900

2 sold in 8 days - list price $177,500 and $199,900

1 sold in 23 days - list price $218,900

However, three of these homes were re-listed from earlier this year. When priced appropriately, they received attention of the right buyers.

One of these homes, 3 bedroom and 2 bath with a 2-car garage, has just been completely remodeled from a previous foreclosure condition. It was priced at $218,900 and sold in 23.

If you are looking for market information for condos, duplexes, or multi-family residential investment properties, email your request to: Marzena@MarzenaMelby.com

Sellers: If you are planning on selling your home within the next six months, call me foe a complimentary market analysis. Hire the agent who has the right tools to find the right buyer for your property.

Buyers: Are you ready?! We offer a free consultation to help you determine the timing and the price range right for you and your situation. We are very knowledgeable about financing options, including special programs and first-time home buyers programs.

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Contact Marzena M. Melby, Broker/Partner, Counselor Realty, Inc., Licensed REALTOR® in the state of Minnesota at 612-267-6798 to list your property for sale or to purchase a property in the Twin Cities Greater Metro Area.

Visit my profile to find out more about my services. Call me today at 612-267-6798. If you prefer, contact me by email, by clicking on "email me" link of this page under my profile.

Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Counselor Realty, Inc. or its other partners or agents.