Home Prices
- Average home sale price: $611k
- Median sale price: $449k
- Average listing price: $628k
- Median listing price: $449k
- Price per square foot: ~$207–$215
Market Speed
- The median time to Pending was 39 days.
- Sales volume: 20 homes, up from 17 the year before.
Inventory & Supply
- Current listings: 80 homes for sale, ranging from $185K to $4.9M.
- Median days on market is 65 days amongst all the current listings.
- Foreclosure activity: 2 properties are in pre-foreclosure.
Market Characteristics
- Winter cooldown: While Chanhassen remains desirable, the slowdown in the winter between holidays remains constant. Expect longer times on the market as a seller.
- Strong community appeal: Chanhassen’s reputation for excellent schools, parks, and amenities continues to drive interest from relocating families, keeping up demand compared to nearby suburbs.
Buyer Recommendations
- More negotiating power with slightly longer listing times as you could put the pressure on an impatient seller.
- Take advantage of slower market pace to negotiate favorable terms and/or price, especially on homes that have been on the market a little longer.
- Have a buyer’s agent like Dan Salamone in your corner. Buying a home is an extremely emotional process. Having a professional that can help you assess a home and make decisions can save you big time!
Seller Recommendations
- There are only a handful of homes on the market, so it should be easier to make your home stand out! If your home is well presented you should have an easier time selling.
- Staging is an excellent way to give your home that WOW factor!
- Pricing competitively puts more buyers in front of your home, which can lead to multiple offers and more favorable terms for sellers.
- Consult with a listing agent like Dan Salamone to find out if making any updates or repairs prior to listing your home could be beneficial.
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