2018 Spring Market Update – Eagan and ISD 196

While the snow is yet to melt completely in Eagan as of this writing, the real estate market is already heating up. As you can see from above, we are entering record territory for lowest level of listings with less than 450 new listings in February 2018.

The buyers we work with are running into houses with multiple offers in the first day or two of listing in many cases, particularly in entry to mid-level homes. Make no mistake, houses priced $350,000 or less are moving quickly in ISD 196.

The AVERAGE days on market also continues to drop with the most recent numbers having houses typically list for 44 days. Keep in mind, these numbers also reflect houses listed in the early part of the year before buyers entered the market in force. As of the date of publish for this blog post (March 20th), a survey of current PENDING properties in ISD 196 shows the average is at 18 days!

With all sorts of numbers trending downward, you might wonder what the upside is. Well, understandably, home prices. The median sale price for a home in the district has risen 7.4% in the last year to $272,000.

The final word

If you’re considering a move in 2018, now’s the time. It is still definitely a seller’s market in most places. If you’re a buyer, you can still find homes that fit your needs and budget, but you need to get the newest properties as soon as possible and have proven strategies needed to help you rise to the top of other buyers.

Whatever your need, I’m here to assist in your selling or buying process and make an experience I know you will be satisfied with. From start to the closing table, I don’t pass off any part of your transaction – it’s that important to me.

Call me today – I will help you make the next move.

Erik Laing