Edina, Minn. – March 31, 2011 – Edina Realty is holding spring “Open House Extravaganzas” on Sundays, April 3 and May 1, when hundreds of homes will be held open throughout Minnesota, western Wisconsin and Fargo, N.D.
On Edina Realty’s website, www.edinarealty.com, house-hunters can easily select and search for the features they most value in a home as well as the areas and neighborhoods they want to live in. Key parts of the site are also accessible on Edina Realty’s mobile-friendly website, m.edinarealty.com and Edina Realty’s iPhone and Android phone apps. This information is updated in real-time by the listing agents.
Consumers can currently view over 51,000 active residential homes for sale – over 23,000 in the 13-county metro area alone -- and almost 30,000 lots for sale on edinarealty.com. This includes Edina Realty’s own listings as well as those of other brokers.
In the 13-county metro area, new residential listings are down by nearly 26 percent from a year ago according to the Minneapolis Area Association of REALTORS® (MAAR). According to MAAR, this should bring supply-side improvements and price stability as demand returns to historically reasonable levels.
“Encouraging signs of economic recovery continue to emerge, such as job growth in the private sector,” Peltier said. Peltier said he is cautiously optimistic about the housing market making a slow and steady comeback – especially compared to 2008 and 2009.
The housing affordability index, which takes into account home prices, interest rates and consumer income to determine overall affordability, is at 236 – near its January peak. Today’s historically low interest rates mean homebuyers have the best of both worlds: low interest rates and many well-priced homes to choose from. “This market favors many different types of buyers: first-timers, investors, and people who want to move up to a larger home or make a lifestyle change,” Peltier said. “If you’ve been on the fence, it’s time to take action now.”
Consumers who are curious to know what houses are selling for can now find sold prices and other data for homes that sold in the last two years on the property search page on www.edinarealty.com.
For more information, or to find a real estate agent in your area, visit www.edinarealty.com.
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, North Dakota and western Wisconsin and nearly 2,300 REALTORS®. Edina Realty’s family of companies includes Edina Realty, Edina Realty Title, and Edina Realty Mortgage. Edina Realty handled more than 25,000 transactions and $5.3 billion in sales volume in 2010. For more information, visitwww.edinarealty.com.