Lakeville Housing Market Update For October 2014

Dated: 10/02/2014

Views: 369

Housing Market Update for Lakeville Minnesota for October 2014

Real estate market data for Lakeville Minnesota provided by David Nelson of RE/MAX Advantage Plus in Lakeville.

Lakeville Minnesota October 2014 Home Prices

Just happy to say that I've only seen rain so far and none of that white stuff....but we all know it will occur sooner or later.  Lakeville had 78 homes sold during the month of September.  Typically this time of the year the market does slow down for most real estate agents mainly because of summer ending and school starting....but we're not the average team. Buyers purchase homes 365 days a year so the market never slows down in my mind!  We are always looking for more business so your referrals are greatly appreciated. 

If you are considering buying a home in Lakeville, we can help find a deal although the housing steals are few and far between. Plus, there is a heightened buyer competition for the same house particularly investors with cash which may increase the home price and terms. By having an expert real estate consultant who understands the Lakeville MN housing market is a must to find those rare deals and negotiate on your behalf. Do not wait too long though, many of our listings sell within a few days (if not hours) of going on the market with multiple offers so you need to be ready to pull the trigger immediately on your next home. Haste makes waste in this line of work!  Get in contact with a trusted mortgage lender like Aaron Vang of Bell Mortgage to get your pre-approval process started online.  This is the first step to get into your new home.  Watch this video on important buying tips in today's market.
The current homes for sale inventory in Lakeville continues to be low although appears to be leveling off with a slight increase compared to previous months as this is a natural swing.  The current inventory of homes for sale is a trusted indicator that Home Prices in Lakeville Minnesota for October 2014 should continue to rise but at what speed no one really knows.  Low inventory of quality homes in Lakeville Minnesota has multiple offers coming in on homes similar to what was occurring back in 2004. There continues to be a high influx of new construction in the price range of $350,000 to 500,000 making it somewhat difficult for traditional sales to complete in that specific price.  It's not impossible for preexisting homes to sell but the homeowners need to be aware of what it takes to complete against the newly built homes.  Buyers need to realize that when buying a new construction, you’ll probably won’t get window covering, established neighborhood, deck, etc compared to a pre-existing home. If you are looking to buy new construction, the options are plenty and Lakeville release more building permit so expect to see a continued growth of new builds.  To make sure you do not overpay for your home, you’ll want to have an experienced agent that does a thorough comparative market analysis (CMA) of the Lakeville Minnesota home on which you are making an offer with the dreams of making it your own. 
Currently in Lakeville, homes have an average time of 79 days on the market before they sell which includes all types of sales such as new construction, townhomes, short sales, traditional sales, etc. If you prefer detailed information about specific home types in Lakeville, contact David Nelson as he has access to all of the important information.
Sellers should still price their home at or below the current market value if they expect to get a serious offer even in a “seller’s market”. I wouldn’t expect home prices to run up quite as fast as they did back ten years ago although the prices has been steadily increasing the past months.  We would expect some tapering off as the hot selling season has pretty much came to an end.Banks have become stricter on lending guidelines and are no longer giving a loan to anyone with a heartbeat and a picture ID. Our team works with trusted lender, Aaron Vang of Bell Mortgage, and we would gladly offer his information to guide you correctly. Let the professionals do your dirty work and put you in the optimal position to buy and sell!

Lakeville Minnesota Real Estate Report Summary for October 2014

The average days on the market in September for single family homes in Lakeville Minnesota (55044) crept up slightly to 82 days compared to 80 in August 2014.

The number of active listings in Lakeville MN (55044) were 327 compared to 296 in October 2013.

There are 17 current foreclosures in Lakeville compared to 33 homes the same time last year which is a positive indicator of a stronger market and increasing home values.

Find Homes for Sale in Lakeville MN

Visit my website to search for homes in Lakeville MN, upcoming open house, gain valuable insight in the home buying/selling process, valuable checklists, and see the most recent listings in Lakeville.
To find out what your home is worth in today’s housing market, click here for an instant free home valuation in less than 2 minutes. Contact David Nelson for any questions and assistance with your real estate needs as the more you know, the more successful your deal will be.
Follow this blog to get the latest information on Lakeville Minnesota Real Estate as well as staying on top of the surrounding neighborhoods. 
Who do you know that would benefit from my team of real estate professionals?  Referrals grow my business so please know that I will personally handle all referrals like they are family. 

Thank you for reading about Housing Market Update for Lakeville Minnesota for October 2014.

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David Nelson

2016 Associate of the Year - RE/MAX Advantage Plus 2016 Platinum Award winner - Individual 2016 Titan Award - Imperial Home Team Twin Cities Real Estate Agent of the Month - December 2016 Member of th....

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