Lake Minnetonka Real Estate MYTH Busters, August 2020 Edition:
This month’s MYTH Buster is brought to you by your least favorite Undergrad Econ Professor and his lesson of Supply & Demand!
MYTH: So many houses have sold recently, are there buyers even left in the area?!?
FACT: Inventory is WAY down! *Listings are down 20% since this time last year*
MYTH: Houses sell for what they’re worth, right?
FACT: Prices are up! *Average prices are up 44% since this time last year*
MYTH: Housing market slows when school starts
FACT: Because of virtual working and learning this year, the market is NOT slowing down!
Overall, there’s little supply and great demand. What this means for you:
If you are thinking of buying, it is a great time to take advantage of phenomenal interest rates.
If you are thinking of selling, call us for a thorough analysis of your specific area and property, as well as an overview of the premium services we offer our clients.
Lake Minnetonka Real Estate - all help, no pressure; offering facts, not myths.