Homes in Champlin MN showing great appreciation
The median price of homes in Champlin MN have continued to rise at a great and healthy rate over this past year. Today many people don't realize this, and many still think they are underwater on their current home. However, many times this is not the case. As you can see below, home appreciation in Champlin, MN from July 28, 2013- July 28, 2014 show a median appreciate of 15.6%. You can see the dip in 2012 (on graph at my site), but since then homes in Champlin MN have seen steady appreciation.
What does this mean for you?
This means that you have had at least two full years of appreciation. It may mean you're not underwater anymore! It may mean you can get that new home, new yard, or new kitchen! Then again, it may not. It depends on your areas, when you bought, and what you bought for. BUT...the good news is the signs are looking much better.
Why people don't know this
Most people don't realize that there has been such strong appreciation for home values in Champlin MN. How do I know that? This is the median supply of homes on the market. Since 2009 we have pretty much just seen a decline. Today that low number sits at 2.6, that's a decrease of 16.3% since last year at this time.
Ok, so what is Months supply?
Months supply is how many homes are currently on the market. The number 2.6 means that if everything else stops there the supply of homes to sell would last 2.6 months. Typically a healthy market will show a 5-7 months supply.
This means that most people do not realize they have had such great appreciation. There ARE buyers out there. They are looking for homes. If you have thought about moving now is a great time. Low supply, that means your home will stand out; high appreciation, that means your values are better; and low mortgage interest rates for buyers, that means more buyers are out looking and a better time for you to buy your next home. (More on that later!)
All in all, if you have a home to sell in Champlin MN, and you have been waiting for that right time - now is that time!
If you are unsure of your home value, why don't you give us a call or visit our site and set up a FREE market analysis or give us a call 612-564-2079.
Original article found on: www.legacyhomesmn.com/homes-in-champlin-mn-seeing-rapid-appreciation