Plymouth Housing Market is Still Favoring Sellers

You may have heard about the recent shift that is bringing a little more (and long overdue) balance to the housing market. More home inventory, less scheduled showings, and more time spent on the market are general trends we are seeing in select areas throughout the Twin Cities. However, we pride ourselves on providing a personalized experience for ALL our clients, and that starts with providing personalized market data for YOUR home. As a Plymouth homeowner, you are in a fantastic position to sell your home NOW, and here’s why.

DESPITE THE RECENT MARKET CHANGES, WE ARE STILL IN A SELLER’S MARKET.
A “seller’s market” is defined as having three months of home inventory or less, meaning that it would take three months or less to sell all homes currently listed for sale.

In July of 2021, inventory in Plymouth was at one month’s worth of supply. That number has not changed; in July of 2022, the Plymouth market still only has a one-month supply of homes. Even though we have seen a slight decline of buyers in the market, new listings in Plymouth are also decreasing year-over-year.

That means YOUR home is still in high demand!

HOMEBUYERS ARE STILL SCHEDULING SHOWINGS TO SEE PLYMOUTH HOMES AT A HIGH RATE.
While showing activity in the Twin Cities has slowed to 2019 levels, the high level of showings in Plymouth has stayed consistent over the past year. The market is still hot, and homes are selling FAST!

Since June of 2021, the average number of days on the market have decreased overall, but we have seen a much steeper decrease in Plymouth. In the last year, the average time on the market for the overall Twin Cities region has decreased from 12 days to 11 days (more specifically, a decrease of 15.4%) while homes in Plymouth have seen a drop from 13 days to only 10 days (a decrease of 23.1%).

If your home is in the Wayzata School District, you are at an even GREATER advantage than you would have been at this time last year! With a decrease of a whopping 28.6% in days spent on the market, a home in the Wayzata School District went from an average of 14 days on the market last year to only 10 days in the current housing market.

Homebuyers are currently waiting for YOUR home to be available to purchase!

YOU CAN STILL RECEIVE TOP DOLLAR WHEN SELLING YOUR HOME!
Over the past few weeks, about 20% of all house listings in the Twin Cities have implemented price reductions, but the average sale price in Plymouth is on the rise! Last year, in July of 2021, the average sale price for a Plymouth home was $420,000. NOW, in July of 2022, the average sale price for homes in your neighborhood is up to $435,250!

In addition to having the upper hand in the current market by owning a home in Plymouth, you also have the additional advantage of working with our team of expert realtors! Our proven approach to successfully selling homes consistently has our listings on the market for 25% LESS TIME than homes listed by an average agent with our clients receiving an average of 103% of the asking price.

Combined with our homebuying strategies, the Kerby & Cristina Team is well-equipped with the knowledge and expertise needed for you to come out ahead in the current market!

Here’s a real testimonial from just this month from one of our many ravings fans who worked with Allie Guerra as her expert agent: “It’s hard to put into words what Allie means to our family. We started working with her in 2019 when we bought our first home, and just worked with her again this year for the sale of our current home (sold $50k over asking), and purchase of our forever dream home (purchased for $40k under)!”

Take advantage of the current market shift by working with our team to sell your home for top dollar and move into your next dream home! Contact us TODAY and discover first-hand why the Kerby & Cristina Real Estate Experts are the #1 RE/MAX Results Team in the country!