Market Conditions Steady after 911

Nov 06, 2001

The local real estate market is functioning pretty much like normal according to Jeff Scislow, Realtor with RE/MAX Results in Apple Valley. “After the shock of September 11th the market was pretty quiet for the next couple weeks as most Americans watched and waited to see what was going to happen,” he said.

Scislow, who sold 9 homes during the month of October, pointed out that the market has pretty much returned to normal with a few exceptions. “The higher-end homes, those above $400,000, have seen slower activity since September, while the homes in the $150,000 to $250,000 have been quite active. Homes priced between $250,000 and $400,000 have seen normal to slightly slower than normal activity,” he said.

The incredibly low interest rates have enabled the market to be as active as it is. “If it weren’t for the low rates today, I believe we’d be seeing a totally different market right now,” Scislow added.

Scislow, a 15-year real estate veteran and seller of over 1700 homes since 1990, helps families with their real estate needs in Dakota, Scott and Hennepin counties. He can be reached at (952) 431-3900 or by email at jeff@scislow.com