January is usually a duplex seller’s nightmare in Minnesota. The hardy buyers that brave the cold weather are looking for bargains. They know that most sellers that leave their properties on the market in December and January are likely desperate to sell. A few properties will sell for bargain prices.
In 2017, this “nightmare market” for sellers is non-existant. Duplexes and rental properties are selling within days even in the dead-of-winter. The lack of inventory is driving buyers to continue their search even when snow and cold prevail.
Here’s a few numbers to consider:
68 Active Properties on the MLS with no accepted offers. 32 of these are barking like the dogs they are because they have been on the market for 60+ days. Everything I have listed is closing shortly.
58 2-4 unit properties are pending.
I have a number of other Realtors that want to meet with me to see what listings I have coming up, in hopes to get inside and make an offer before they go on the MLS. On Friday, I will close on the sale of two duplexes that we sold prior to listing on the MLS. Another Triplex that showed a buyer just after the New Year is pending as well.
In 2015 & 2016 I sold 90% of the listings that I had (the National average is hovering around 70%).
So, the market is phenomenal, and if you are looking for advice on how to get your property ready and receive the best return on your investment call me. I help owners get ready to sell. If you need help cleaning, painting or doing small renovations to improve your return call me. I have a great crew of people to help.
One last note, the interest rates have risen, and the likely boom in the economy that is coming will drive them even higher. It is a great time to sell. Higher interest rates will mean lower prices for sellers.