Here in October, 2011, the minnesota real estate market continues to see a shortage of MLS listings come onto the market each week.
Comparing year over year, there has been less new homes for sale each week, with a fairly dramatic increase in pending sales. Overall, the Northstar MLS database of properties is seeing a fairly significant decrease of inventory for sale here in 2011.
For some real estate buyers here in MN, this is causing some frustrations. Many homes for sale in and around first time home buyer price ranges, are seeing multiple offers in a short amount of time. And some buyers are having difficulty finding that home of their dreams. There still however continues to be a large number of REO and short sale listings for sale on the minnesota mls. And in fact, many of the processes involved with getting short sales closed for both buyers and sellers seems to be improving here in 2011.
If you are a buyer in our market, contact a real estate agent today so that you can begin your search for the home of your dreams. Please know that the above website is not the actual MLS. Only a licensed Realtor can access the Regional MLS of Minnesota.