Edina, Minn. – March 8, 2012 – The 2012 spring housing market is predicted to be the best we’ve seen in the past six or more years. Edina Realty will be holding several Open House Extravaganzas when hundreds of homes are held open for spring home buyers and shoppers.
The next Open House Extravaganza will be held this Sunday, March 11, and Open House Extravaganzas will also be held on Sundays April 1 and 29, May 6 and June 3. Check http://www.edinarealty.com for current listings and houses that will be held open, along with property details and door-to-door driving directions.
Home sales have been rising since last August; pending sales in the Twin Cities metro area were up 25.5 percent in January compared to last year according to the Minneapolis Area Association of REALTORS®. “We’re predicting a very busy spring market thanks to low prices, record low interest rates and an economy that is showing signs of stabilizing,” said Bob Peltier, president and CEO of Edina Realty Home Services.
Peltier said that housing inventory is way down – by 28.1 percent since last year. “If you’ve been waiting to put your home on the market, there’s no time like the present,” Peltier said. He added that homeowners might be pleasantly surprised when they consult with a Realtor on their home’s value. “With housing inventory at its lowest level since 2004, there’s less competition, so some homes will sell faster and at a higher asking price.”
Most real estate transactions take place during the spring market. The Twin Cities market is technically in a balanced market with 4.5 months of inventory, while the housing market in greater Minnesota and western Wisconsin has been on a slightly slower road to recovery.
Edina Realty advises homeowners who are considering a move to put their home on the market as soon as possible. However, it’s important to keep the four “P’s” in mind when getting ready to sell a home: 1) Plan for what needs to be done, 2) Purge and clean out clutter, 3) Primp and beautify your home, and 4) Peruse the current listings on http://www.edinarealty.com or m.edinarealty.com from your mobile device.
Edina Realty, a subsidiary of HomeServices of America, is one of the nation’s largest real estate companies with approximately 60 real estate offices throughout Minnesota and western Wisconsin and nearly 2,100 REALTORS®. Edina Realty's family of companies includes Edina Realty, Edina Realty Title, and Edina Realty Mortgage. Edina Realty handled more than 27,000 transactions and $5.4 billion in sales volume in 2011. For more information, visit www.edinarealty.com, m.edinarealty.com, or find us on Facebook: facebook.com/EdinaRealty; and Twitter: twitter.com/Edina_Realty.