a Berkshire Hathaway affiliate
Newsroom

Your Home is in High Demand, say Edina Realty Experts


With the lowest housing inventory in eight years, multiple offers are becoming the norm.



Edina Realty Holds Open House Extravaganza this Sunday, May 6

Edina, Minn. – May 2, 2012 – Your home is in high demand and may be worth more than you think, say Edina Realty experts. It’s a simple case of supply and demand: the housing inventory is the lowest we’ve seen since 2004, according to the Minneapolis Area Association of REALTORS® (MAAR). As a result, there’s a high demand for any traditional homes that come onto the market.

Edina Realty is holding an Open House Extravaganza this Sunday, May 6, when both interested homebuyers and potential home sellers can peruse hundreds of homes for sale.

Many buyers have experienced the housing market’s competitive nature first-hand, especially when shopping for good quality, non-foreclosed homes. Multiple offer situations are becoming the norm among top properties, forcing buyers to put their best and highest offers on the table.

The news simply couldn’t be better for sellers. MAAR reported an increase in the median sales price in the Twin Cities area – up 6.4 percent from a year ago. Virtually every real estate statistic is heading in the right direction, according to Edina Realty president Barb Jandric. Distressed property sales (foreclosures and short sales) have declined, the number of days on market declined, and the housing affordability index, which factors in home prices, interest rates and consumer income, is holding steady.

“Sellers are finding that their homes are selling more quickly, and many are getting multiple offers, which can increase the final sales price,” Jandric said. “In fact, the only thing we lack are traditional homes for sale. If you’ve been delaying to put your home on the market, you’ll find this is exactly the right time to do it. Buyers have a great appetite for housing. And you might find your home is worth more than you think,” she said.

To view homes for sale and property listings, or to find a Realtor® who specializes in your community, visit 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 2,100 REALTORS®. Edina Realty’s family of companies includes Edina Realty, Edina Realty Title and Edina Realty Mortgage. Edina Realty handled nearly 27,000 transactions and $5.4 billion in sales volume in 2011. For more information, visit www.edinarealty.com or find us on Facebook and Twitter: facebook.com/EdinaRealty and twitter.com/Edina_Realty.


Get more information, or schedule an interview:

Gena Henrich, Edina Realty952.928.5069genahenrich@edinarealty.comPaul Maccabee, Maccabee Group612.337.0087paul@maccabee.com



Status Definitions

For Sale: Properties which are available for showings and purchase

Active Contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Contingent and Pending statuses may not be available for all listings