The expiration of the tax credit clearly motivated buyers to take action by April 30. Last week, there was a significant 31.2 percent jump in Pending Sales versus last year, bringing the total number of contracts written to 1,469. But for the first time this year the number of New Listings was down. A total of 1,803 of them entered the market, 11.5 percent lower than a year ago.
Some encouraging figures include a Days on Market count of 127, down 15.3 percent compared to last year, and Percent of Original List Price Received at Sale of 93.6 percent, up 4.0 percent over last year.
The Minneapolis Area Association of Realtors expect buyer activity to continue over the coming weeks, although not with the same level of urgency due to the expired tax credits and a slight seasonal lull before we get into the heart of summer.
When it come to Burnsville real estate, the same trend has happened. There is a 6% decrease in new listings during the month of April compared to April of 2009. Year -to-date, there have been 512 new listings added to the market in Burnsville. That is slightly higher than the 499 through the end of April in 2009. The average sales price for Burnsville real estate YTD is $182,445. This is less than a 2% decline from this point in 2009. The largest factor that comes into play with Burnsville real estate is that the average number of days on market until sale has dropped 15% through April. Average market time now is 122 days verses the 144 days in 2009.
If you are looking for a new home in Burnsville, or anywhere in Dakota or Scott County, contact usand we can recommend a great Realtor. Make sure you are pre-qualified for a mortgage before you go looking at homes. To get the process started, click here.
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