Shakopee Real Estate Market Heating Up
Shakopee homes are selling fast. If this real estate market continues, we will see some nice appreciation this year. The foreclosures and even short sales in Shakopee are flying off the market in less the a week. Traditional sales seem to lag a bit, but are not quite at the discount that the Shakopee foreclosure homes and short sales are priced. Inventory is about at a 7 year low in the city of Shakopee and Realtors in Shakopee can’t list homes fast enough for buyers to come in and throw down purchase agreements. If you are considering putting you home on the market, now is the time.
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Multiple Offers on Shakopee Homes
Almost every home I have had clients write on in the last 2 months has been multiple offers. Multiple offers on home in the $100,000 range and also on homes even in the $400,000’s. This is very surprising given the news you hear about the market being poor. I attribute most of this due to Shakopee homes being in limited inventory. The Shakopee real estate market has shrunk especially with good quality homes for sale. The foreclosures and even short sales are flying off the market in less the a week. The most recent offer I made was on a Shakopee townhome for sale and the property was listed only 5 days. The townhome was a bank owned property and the bank would not review offers for 5 days. On the fifth day the bank had 8 other offers in hand and althought we bid OVER list price for the townhome in Shakopee, we lost out. The property I was told sold for about $18,000 over the list price. This is huge number given the fact the townhome was only listed for around $106,000. Think about that for a minute. Shakopee homes selling in multiple offers for almost 17% OVER the list price.