Are you wondering what’s happening with supply and inventory levels in the Brainerd Lakes area? In this episode of Brainerd Redefined, I’m going to tell you about the current home inventory available here in Brainerd. We’ll look at past trends and future predictions so you know if now is the right time to buy.
A Shifting Market
I’ve been asked what’s happening with the supply and the inventory levels of homes and cabins in the Brainerd Lakes area numerous times in the past month. I’ve got some good news if you’re a buyer: we’re finally starting to see a little bit of a market shift.
During the COVID years, we’ve seen really short inventory and not a lot of homes for sale. That’s put buyers in a really difficult position. We’ve seen offers of $100,000 over the asking price along with as many as 20 offers on a single home.
However, now we’re starting to see interest rates creep up and more supply hit the marketplace. This puts buyers in a little better position, as they’re not going to be competing with 6-10 offers on one home.
A Good Time To Buy
For the first time in over two years, we’re also seeing price reductions. Previously, if a home was on the market for two weeks, it really became stale and market-worn. Now, we’re seeing homes sit on the market for over 30 days.
Along the way, sellers are getting more realistic and dropping their prices. This is to attract a buyer that’s a bit more elusive than what we’ve seen in the past. So if you’re thinking of buying, now may be the perfect time to purchase before interest rates go through the roof by the end of this year.
We’re Here To Help
We would love to sit down and show you the inventory that’s available here in the Brainerd Lakes area. Whether you’re looking for a lake home, a home on acreage, or a home in Baxter, Crosby, or Brainerd, we can help. We cover every area within a 60-mile radius of the Brainerd Lakes area.
We’d be happy to show you what new inventory we have and what’s existing on the market currently. Make sure you reach out, and I’d be happy to connect. Don’t forget to subscribe to my channel so you never miss an episode of Brainerd Redefined, where we talk real estate right here in the Brainerd Lakes area. Stay tuned to see what I feature next!
