What’s New in The Shakopee Real Estate Market

Sorry, for not posting in a while, but it has been crazy busy lately getting out team website up, www.MnHomesForSale.com and we have been doing some blog posts recently on that website too. The school year is off and running anf my wife is officially back to work and in her new school, Jackson Elementary in Shakopee. Very exciting to have a new building and many new students as well.

The Shakopee real estate market has been extremely busy lately. It almost seems more like a spring real estate market rather than Fall. Shakopee real estate is booming when homes hit the market. It seems everything that is decent is selling within 30 days,  although the average days on market for Shakopee homes pending is currently at 140 days, which is down! 231 Shakopee homes are currently considered active in the Shakopee real estate market. Still an overwhelming amount of Shakopee short sale listings flood the market as 31 of those 231 are sold subject to bank approval. Good Shakopee homes are hard to find these days. I think we will see more Shakopee foreclosure listings hitting the market this fall. I know after talking with other Shakopee real estate agents with Remax that specialize in the foreclosure market that the banks seem to be holding back. There are great options purchasing some shakopee foreclosures such as Fannie Mae listings. You can buy a Fannie mae listing with only 3% down, no mortgage insurance no appriasal and the bank will agree to pay 3.5% of loan costs, awesome deal!

If you need any help searching for Shakopee real estate or have any questions make sure to reach out to us and we would be happy to help.