Shakopee Inventory Down, Shakopee Short Sales Up

The Shakopee real estate inventory seems to be heading lower and lower, however at the same time Shakopee short sales are increasing. The Shakopee real estate market is moving though. I sold a Shakopee foreclosure listing that I put on the market in less than a week and recently  sold a listing of mine on the west side of town on Madison the same day! I did have a buyer for the listing a few weeks in advance and did notify both parties prior to listing the home. With only 260 active homes on the market, good real estate is hard to find. Shakopee town home inventory also seems to be down with only 38% of the active listing classified as Shakopee townhomes. As mentioned in a previous blog, a frustrating stat shows again how few homes are available. Of the 260 active Shakopee homes on the market, 60 actually do have offers, but do still show as active and this does not include the 70 pending homes waiting to close. Those 60 are Shakopee homes that are either subject to inspection, another home or subject to bank approval (which is essentially short sale listings). That brings me to my next CRAZY set of stats including Shakopee short sales :

  • 75 of the 260 active Shakopee homes are short sales, 29% and a high percentage.
  •  If you include Shakopee foreclosures, 39.6% of the market is distressed, which is actually down thankfully.
  • Of the 200 remaining Shakopee homes without offers, 34 are Shakopee short sales, again another positive sign as we are down to only 17% of the market being short sale listings in Shakopee.
  • Only 32% of the remaining 200 Shakopee real estate listings are townhomes. Typically 42-48% of the total sales annually in Shakopee are townhomes.

I remember a time when it was hard to find Shakopee homes for sale under $200,000, today 92 of the 200 listings without offers are under $200,000 and 32 of those are single family homes. Only 36 homes are listed over $350,000 and 15 over $500,000.