Only 1.3 Monthly Supply Of Homes For Sale In Nokomis

I love looking at historical graphs because they help put the current real estate market in perspective.  The first graph shows the months supply of homes for sale in the Lake Nokomis community.  I remember back in 2015 when there was a 2.6 months supply of homes available and I thought that was extremely low, because it was at the time.  But now we are only at a 1.3 months supply. We might see a bump up to 1.5 or 1.7, but if you look at spring 2020 we didn't go over 1.3 all summer.  

The second graph actually shows the number of homes available for sale.  You can see for example in March 2015 there were about 170 homes for sale, but in March 2020 there were only 79. As inventory drops my job as a buyers agent gets harder because there is just fewer homes available to offer on. So buyers are competing with more buyers per property and that also drives the sale price up.  Often buyers will have to make many offers on many different properties before they end up getting their offer accepted.  So if you are looking to buy in south Minneapolis this year get ready for fierce competition. And if you are selling your home this year prepare, prepare, prepare.  The best way to maximize your sales price is to prepare your home for sale properly.  If you need help buying or selling give me a call!

Lake Nokomis Months Supply Of Homes For Sale 

Homes Available For Sale In Lake Nokomis