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2016 Real Estate Market Summary

by JS Realty

Summer Stats

by JS Realty

It is important to know what is going on in the current market because that can effect selling or buying a home.  JS Realty can help you understand the Duluth area market and what that means for any real estate transactions. 

Year to date new listings have increased from 2,517 in 2014 to 2,847 in 2015.  This is a +13.1% change.  Depending on your needs this could be both a good and bad thing.  If you are looking to sell a home, this means that there is more competition in 2015 compared to 2014.  JS Realty can help you stay ahead of the competition by superior marketing and advertising for your property.  If you are looking to purchase a home, then the increase is a good thing.  This means that you’ll have more houses available for you to view and select.  Let us help you find your perfect home.

Closings are a big part of real estate transactions.  Year to date the amount of closed sales has increased from 984 in 2014 to 1,218 in 2015.  This is a +23.8% change.  This increase paired with the new listings increase spells G-R-E-A-T!  This means that more of the houses that are being listed are being sold.  This is good news for both sellers and buyers.  More people are selling their houses and getting into new homes!

Year to date the amount of days on the market has decreased from 93 days in 2014 to 80 days in 2015. This is a -14.0% change.  Houses are selling faster! For buyers this could be problematic because buying a home is a big decision and you want to make sure you are able to find the “perfect” home for you.  JS Realty can help both buyers and sellers make informed and quick decisions in this faster moving market.

The percentage of original price received increased from 92.6% in 2014 to 94.1% in 2014.  This is a +2.9% change. For sellers this is good because you are getting what your home is worth in the current market if you are priced right. 

The Affordability index which helps gauge how affordable homes are has decreased from 215 in 2014 to 202 in 2015.  This is a -6.0% change.  This means that it is more affordable to own a home in 2015 than it was in 2014. 

Overall, homes that are priced right are selling quicker.  Our market area is increasing in value.  The average sale price is up 2.9% from 2014 & the median sale is up 7.1% from 2014.

Please contact JS Realty if you have any questions about the market! We would be more than happy to help out! 218-729-9784

All data is from the Duluth Area Association of REALTORS MLS and Arrowhead MLS.

CRS Sell-A-Bration Convention, Las Vegas 2015

by Jamie Sathers-Day-JS Realty

Julie and I always look forward to going to the Certified Residential Specialist (CRS) Sell-A-Bration Convention. It’s a group of successful Realtors who gather to network, share ideas, and listen to educational, motivational, and marketing topics. It’s a great way for us to get new ideas for marketing real estate, motivating us to set our goals high, and network with Realtors around the world.

Here are some highlights from the conference:

The thing that stuck with me this year is the need to be happy in order to be successful. One of my favorite quotes this year was “The road to being is through doing and to think BIG.”

Technology is another aspect that was discussed as it is always changing. Check out the Cicret bracelet - amazing! Also check out a card called Plastc – very cool! Video is what consumers want now and I want to start trying to pass on more info through video… feedback will be appreciated when you see it on our website. When you see us on any website, please fill out a review of our service. People want to read reviews about the people they are thinking about doing business with.

Thanks to all our Facebook friends for all the recommendations of things to do in Las Vegas! We did hit Batistas for some yummy Italian food, Sprinkles for delicious cupcakes, Toby Keith’s Bar for good dancing, a couple piano bars for fun sing-alongs, and did a ton of people watching! We stayed at the Paris and loved it. I’m charged up and looking forward to another great year!

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Contact Information

Photo of J.S. Realty Real Estate
J.S. Realty
J.S. Realty, LLC
5112 Midway Rd
Duluth MN 55811
Office: (218)729-9784
Fax: (218) 729-5638