Ok sellers it is time for your March of 2012 update. The Minnetonka real estate market is continuing to show some great numbers. According to Infosparks through the NorthstarMLS, the month’s supply of homes for sale is down 24.9% from March of 2011. That is a major drop of homes for sale. In March of 2011, we had 8 months of supply of homes for sale in Minnetonka; in March of 2012 we had a 6 month supply. Now the overall picture shows the month’s supply of homes for sale has dropped 17.6% from the previous 12 months. This means less competition and less competition means increasing demand. Now the other great news for the sellers is that in March of 2012 the pending sales was up 18.5% and the closed sales were up 19.1% from the previous year. An increase in sales is always a good sign...
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