The Toughest Home to Sell Around St Cloud, MN
What is the toughest age of home to sell in the St Cloud vicinity? Of homes that were listed on the St Cloud MLS since January 1st of 2007, there are currently 435 listings of properties that have expired without selling. These 435 homes comprise only the St Cloud, Sartell, Sauk Rapids, Waite Park, and St Joseph areas. I was a little surprised to discover that homes ranging from 0-10 years old made up 46.9% of all expired listings in my research. Below is a breakdown of the number of expired listings per age range:
144 Expired Listings from 0-4 Years Old
50 Expired Listings from 5-9 Years Old
49 Expired Listings from 10-19 Years Old
35 Expired Listings from 20-29 Years Old
26 Expired Listings from 30-39 Years Old
15 Expired Listings from 40-49 Years Old
27 Expired Listings from 50-59 Years Old
11 Expired Listings from 60-69 Years Old
9 Expired Listings from 70-79 Years Old
20 Expired Listings from 80-89 Years Old
11 Expired Listings from 90-99 Years Old
20 Expired Listings from 100+ Years Old
If you are thinking about selling your home in the St Cloud area, know that the law of supply and demand is in full effect. With the amount of homes that are available to purchase under 10 years of age, the competition for potential buyers is even more fierce than usual.
The other statistic that stood out during my research was that the expired homes were listed an average of 5 months with only a 2.32% average reduction in price. Compare that to the 735 homes that sold during the same time frame. The homes that sold were listed for approximately 2 months before getting an offer and had an average 3.89% reduction in price from their original list prices (all sellers concessions not accounted for in price reduction statistics). Oh yeah, there is also the little fact that the sold properties were listed nearly 18% less than their expired property counterparts.
Questions, comments or concerns? Post them here for answers and review.
Jason Tangen
