Inventory of homes for sale has been the lowest it has been in over 10 years, but we expect the market to balance out a bit more in the year ahead.
Cottage Grove Market Update – Single Family, Previously Owned Homes
(Rolling 12 Month Report, compared to 2017)
· New Listings: -1.2% (560)
· Median Sales Price: +3.9% ($265,000)
· Pending Sales: -4.9% (483)
· Days on Market: -4.5% (21)
· Homes for Sale: -10.5% (51)
· Months Supply of Inventory: 0% (1.3)
Data compiled from RMLS as of January 10, 2019
We have buyers actively searching for their next home and many more with plans to buy this Spring.
If you, or anyone you know is thinking about selling their home, contact us for a detailed market analysis.
RE/MAX Professionals is a proud sponsor of the Holiday Train Cottage Grove Stop!
The Canadian Pacific Holiday Train returns to the communities of Cottage Grove, Newport and St. Paul Park THIS FRIDAY, December 9, 2016. The brightly lit train will arrive at approximately 5:45 p.m. with a trainload of fun and entertainment. It will stop on West Point Douglas Road, just south of the 80th St. Bridge / Belden Crossing (across from the Youth Service Bureau).
All cash and personal care items collected at the "Cottage Grove Stop" go directly to the local Friends in Need Food Shelf; serving the residents of Cottage Grove, Grey Cloud Island, Newport and St. Paul Park. The goal is to raise $90,000 this year.
The RE/MAX Professionals Lodge is a great place to stop and warm up while shopping for Holiday Train Merchandise. Holiday Train sweatshirts, knit caps, fleece blankets, NEW this year, fleece mittens, and more will be available! Free hot beverages and cookies will be available, and Mountain Mike's mini-donuts, cheese curds, corn dogs, and popcorn will be available for purchase! Glo-sticks will be given to the first 2,300 children attending this event.
Visit with Santa and enjoy some holiday music before the train arrives. Upon the train's arrival to Cottage Grove, Kelly Prescott and Colin James will perform their musical hits. Prescott visited Cottage Grove back in 2013, when she shared the stage with Sheryl Crow and Take Six.
Cash is the preferred donation but the need is also great for personal care items such as bar soap, shampoo, deodorant, toothbrushes, dish soap, toilet paper, paper towels or diapers. There will be collection areas on site. If you are unable to attend the event and would still like to donate to the Friends in Need Food Shelf, please send checks payable to the Friends in Need Food Shelf, P.O. Box 6, Cottage Grove, MN 55016, and please write "Holiday Train", on the memo line.
The Canadian Pacific Holiday Train returns to the communities of Cottage Grove, Newport and St. Paul Park on the evening of Friday, December 9, 2016. The brightly lit train will arrive at approximately 6 p.m. with a trainload of fun and entertainment. All cash and donations of personal care items collected at the "Cottage Grove Stop" go directly to our local Friends in Need Food Shelf; serving the residents of Cottage Grove, Grey Cloud Island, Newport and St. Paul Park.
The Holiday Train is truly a gift to our communities. Last year our communities raised an astounding $79,880.81 and collected approximately 13,000 pounds of toiletries, food and toys for our local Friends in Need Food Shelf. In the past thirteen years the Holiday Train event in Cottage Grove has raised over $846,964 for our local food shelf! The goal is to raise $90,000 this year.
Cottage Grove, Newport and St. Paul Park area residents are not waiting until the arrival of the Canadian Pacific Holiday Train on Friday, December 9th to start reaching out to the community to raise awareness and funds for our local Friends in Need Food Shelf. Pre-stop fund raising includes:
The Cottage Grove Area Chamber of Commerce, the City of Cottage Grove, the City of Newport and the City of St. Paul Park are hosting this event in conjunction with many local volunteers, local businesses and community leaders. Cash is the preferred donation but the need is also great for personal care items such as bar soap, shampoo, deodorant, toothbrushes, dish soap, toilet paper, paper towels or diapers.
If you are unable to attend the event and would still like to donate to the Friends in Need Food Shelf, please send checks payable to the Friends in Need Food Shelf, noting "Holiday Train" in the memo line. Checks can be sent to the Friends in Need Food Shelf, P.O. Box 6, Cottage Grove, MN 55016.
Visit: http://www.finfood.org/holiday-train.html for more information and details on sponsorship levels.
The Cottage Grove Area Chamber of Commerce is sponsoring a Candidate Forum on October 20, 2016. The event is free and open to the public.
All candidates for Cottage Grove and Newport city council, Cottage Grove and Newport mayor, District 54 State Senator, District 54A State Representative and District 54B State Representative have been invited. The Chamber of Commerce's membership was surveyed in order develop questions for the event; those questions have been provided to the candidates in advance.
Werner Electric Supply is hosting the forum at their corporate campus located at 7450 95th Street S in Cottage Grove. Networking and breakfast starts at 7:30, with the event beginning at 8am.
Werner Electric Supply has graciously agreed to furnish a continental breakfast for attendees and candidates.
For more details about the Candidate Forum or the Cottage Grove Area Chamber of Commerce, please visit their website at: www.cottagegrovechamber.org.
LOCAL HOUSING REPORT
High buyer-traffic looks promising for the remainder of the year with residential construcion, buyer confidence, and housing starts all being up in recent months. The numbers below depict a comparison to last year's market at this time.
• Median Sales Price increased 6.6% to $239,900
• Days on Market decreased 14.3% to 54
• Months Supply of Homes For Sale decreased 21.1% to 3.0
NATIONAL HOUSING REPORT
In the middle of popular summer selling season as temperatures warm up so do home sales. Low-inventory of homes continues to present a challenge, but overall month-over-month stabilization is a good sign for the market. Here is a snapshot of the national market compared to last year at this time.
• Transactions are up 0.7%
• Median Sales Price increased 2.2% to $229,900
We're sure that those looking to either buy or sell a house want the process to be as simple as possible. Did you know doing some of the items listed below can actually prolong or complicate the process? Whether you are a home-buyer or seller, we've compiled a list of our few, top suggestions for what NOT to do.
Don't quit or change your job
Don't buy any large ticket items (cars, furniture, etc.)
Don't make ghost deposits (all funds need to be traceable)
Don't be dishonest with the lender about child support, alimony, wage garnishments or any other payroll reduction
Don't work with or sign agreements with more than one REALTOR
Don't get too far down the road without knowing and agreeing upon your non-negotiables.
Don't change your name during the mortgage process
Don't order Direct TV, Cable, Telephone or any other utility that will pull a credit report unless you want to write a letter of explanation about the credit report to the mortgage company
For more tips on what NOT to do, talk to one of our experienced agents.
LOCAL HOUSING REPORT
Locally, the Twin Cities housing market has seen quick sales as many are looking to buy homes. Below is a snapshot of our current market compared to last year at this time.
Median Sales Price increased 5.3% to $242,000
Days on Market decreased 16.7% to 55
Months Supply of Homes For Sale decreased 23.7% to 2.9
Click here to see the full article: http://spaar.com/wp-content/uploads/2016/07/SPAAR_WMA_2016-07-18.pdf
NATIONAL HOUSING REPORT
Nationally, it continues to be a seller's market as inventory of homes for sale remains tight. These numbers show the current market compared to last year at this time.
5.1% increase in home sales
Median Sales Price increased 4.2% to $222,475
To see the full infographic click here: http://www.remax.com/newsroom/press-releases/june-2016-remax-national-housing-report.htm