St. Cloud Home Sales; More of a Sellers Market
Increased interest rates, inflation and an increase in property taxes are all playing a role in home sales in Central Minnesota. Realtor Craig Ehrlichman from Premier Real Estate Services joined me on WJON. He indicates home sellers are still, on average in the St. Cloud metro area receiving 99% of their original asking price. Ehrlichman says that is down only slightly from 100% in 2022.
A benefit from the buyers side, according to Ehrlichman is last year buyers may have needed to pay above asking price due to competition on the market. Buyers also lacked an ability to negotiate price which he says they now have in most cases in 2023.
Homes are on the market on average of 42 days year to date according to Ehrlichman. Homes on average were on the market for 47 days in 2022. Ehrlichman indicates homes in the $250,000 range tend to show the best and sell the quickest. He says he hadn't seen homes under $200,000 come on the market for quite awhile but he has now saw some within the last week.
Ehrlichman's suggestions if you are considering selling your home include little things like are all the light bulbs working? Are there cobwebs in corners? Do some things need to be fixed like cover plates on light switches? He also says if you replace floors or countertops don't expect 100% return on investment.
If you'd like to listen to my conversation with Craig Ehrlichment it is available below.
Come Visit Cold Spring With Us in Pictures
More From 96.7 The River
