This is the little chart I see each morning when I open our MLS database. It shows the activity for the last 7 days. It is very unusual to see the same number of new listings as there are new pending sales. basically it means the 44 homes went on the market in St. Paul in the last 7 days and during that same time 44 homes that were on the market received offers that were accepted by the seller. That means that we cobbled up 44 homes for sale even though one of the last 7 days was a holiday.
Hot sheet
There are 17 expired listings. Those are homes that were on the market in St. Paul but that did not sell before the contract with the real estate agent ran out. My guess is most of those sellers will want to wait until spring which is kind of silly because the homes won’t sell unless they are on the market and this is the slow time of the year so they could just list with me . . I am still offering 10% off of my commission for those who list with me before the end of the month. We need more homes on the market.
The inventory of homes on the market is shockingly low. There are only 1002 homes on the market in St. Paul and only 787 without offers on them. If you are a home buyer you can still find bargains but if you are not pre-approved for a home loan you are not ready to buy and so someone else will get the home that you had your heart set on and they will get to take advantage of the low interest rates and home prices.
Very true. Hard to pull the trigger sometimes.