Shakopee Realtor Market Update January 2012

Shakopee RealtorsShakopee Homes For Sale Down

Just shooting out a prospective of the past months Shakopee real estate market from a Shakopee Realtors prospective.  The real estate market has been a bit odd lately. Not many homes coming on the market, everyone telling us, “just wait, the foreclosure flood gates will open soon with more inventory” and the Shakopee homes for sale out there that a decent get snapped up in multiple offer situations after a week. A few things that have been frustrating for buyers in their current real estate market is 1) the lack of Shakopee mls listings 2) the banks sitting on offers even if you submit an offer the first hour it is listed, as it seems they are waiting for multiple offers 3) many of the “active” mls listing, aren’t so “active”, they are SOLD, sold subject to bank approval that is. Yes, many shakopee mls listings that are coming up as active listing do have offers. The reason this comes about is due to the banks requiring that the listing Realtors deem the property still active to show, because they want back up offers.

Shakopee Realtors Market Outlook 2012

Shakopee Realtors have been recently seeing inventory decrease which is a positive sign for those selling their homes. As we see inventory fall and demand stay high, typically that allows home values to rise.  I can’t remember where I read a recent real estate article that indicated the Minneapolis real estate market would see an increase in values of around 8% this year. Great news for sellers, but I would be cautiously optimistic. As a Shakopee realtor, I do feel we will see values increase this year, but slowly and depending on how that foreclosure inventory is released will also have an effect on values. If the banks just release everything at once, values are almost certain to drop if there are not enough buyers and inventory will sit stagnant until demand is there. If the banks hold onto the inventory like they have been and slowly release a few properties at a time I think inventory will remain lower and the new properties will get gobbled up quickly by hungry buyers anticipating a good deal. People thrive on competition and we are definitely seeing that with increased offers and multiple offer scenarios now.

With a good Shakopee school district I think you will see the real estate market here in Shakopee substaintially grow over the next 10 years. As a Shakopee Realtor and resident with a wife in the