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How Has Local Real Estate Changed Since Last Quarter?


How has our real estate market changed since last quarter? Let’s discuss a few notable developments.

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Real estate conditions can change quite quickly, which means it’s time for a quick update on what’s happening now. 

First, inventory in our area is at just two months’ worth of supply. This means if no new homes hit our market during that time, we would run out of available listings. A balanced market (meaning one in which buyers and sellers have equal leverage) is typically one with between five to six months’ worth of inventory. Anything above that level is a buyer’s market, while anything below is a seller’s market. 

It’s quite common for inventory levels to fluctuate throughout the year, but the current levels are lower than we’ve seen them in at least five years. 

What does this mean for you? Well, it ultimately indicates that sellers have a strong upper hand right now. If your home is in good condition and is listed at a good price, you’ll likely receive multiple offers.

The bottom line is that we’re definitely still in a seller’s market.

Another factor benefiting sellers and homeowners today is the recent rise in home values, which are up 6.5% year to date. This leaves us with a current average sales price of $285,000. The bottom line is that we’re definitely still in a seller’s market. 

We hope this quarterly update has been helpful, but, of course, the market changes from week to week, too; so if you’d ever like to speak about what’s happening on a given day in your neighborhood, don’t hesitate to reach out.

If you have any other questions or would like more information, please give us a call or send us an email. We look forward to hearing from you soon

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Great Food and a Great Cause Meet at Our 3rd Annual Yellow Ribbon Fundraiser

Enjoy great food and give back to a fantastic cause by attending our Third Annual Yellow Ribbon Barbecue Fundraiser.

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Our Third Annual Yellow Ribbon Barbecue Fundraiser is just around the corner, and you’re invited. As always, this great event is a fantastic way to give back to the families of deployed service members, all while enjoying some great barbecue. The food itself is free, but donations are highly encouraged. So mark your calendars for Saturday, September 28, when we’ll meet at Lion’s Park from noon to 2 p.m. (or until the ribs are gone)! We hope to see you there. As always, if you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

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Where Does The Fry Group Work? Everywhere

Looking to buy a home? Search all homes here.
Looking to sell a home? Get a free home value report here.

Does The Fry Group just sell homes in White Bear Lake? No! Although our office is located in downtown White Bear Lake, we sell homes all over Wisconsin and Minnesota. In a sense, our office is your driveway. With our combined experience and the technology we have at our fingertips, we can help you price your home appropriately in any marketplace. Even if we encounter a situation where we think we’re not the right team help you, we’ll still find the best agent in your area. We’ve been in the business for a long time, and we maintain great relationships with brokerages across the country. Whether you’re selling, buying, or want to know about what’s happening in our market, don’t hesitate to reach out to us, because we’d love to help you.