Finding inventory in a limited market isn’t easy! With inventory levels and rates at historic lows, and buyer demand soaring due to the pandemic, you can’t rely on just the MLS feed to find your next luxury home. You can see how dire this situation is just by looking at the graph showing historic inventory levels for the last 13 years. Clearly more aggressive strategies need to be taken to find the right home that you’re looking for. But what can be done? Here are some clear, east-to-use tips for finding the right luxury home in a low inventory market.
Tap the Sprague Pipeline
Every week we are regularly listing beautiful homes for sale in Edina, Minneapolis and Southwest suburbs on JoshSprague.com. By visiting our website, you are able to view many different properties actively for sale, as well as preview properties that will be coming to the market soon. Subscribe to our real estate blog to get notified of new and upcoming homes for sale. On our website, we also have our dedicated Real Estate Listings Page and Luxury Real Estate Blog that talk about each listing and unique property features in detail. On the listing pages, we also have high quality digital photo galleries and site gvideos that show off the home, as well as the surrounding neighborhood, parks, lakes, and community. A great example of this would be our Drone Video for 5025 Hankerson Ave. If you still haven’t found a property, you can visit our Real Estate Listings Search Page where you can search the entire MLS for exactly the type of property you are looking for. Search by price, location, home type, size, bedrooms, baths, and more
Leverage the Sotheby’s Network
Every week our Lakes Sotheby’s offices in Edina, Wayzata and Minneapolis share Pre-MLS and non-MLS listings. These luxury home listings cover the hottest markets including Edina, Lake Minnetonka, and Minneapolis. Most of these listings come out 4-6 weeks before the actual listing hits the MLS. So you have an advantage working with our Lakes Sotheby’s network. Moreover, we have the highest quality properties on the market in every price category, including the upper bracket! So collaborating with Sotheby’s is a key strategy in finding inventory in a limited market.
Deep Dive the Neighborhoods
When we are finding inventory for clients in a limited market, we have to go beyond the call of duty. Sometimes we will mail an entire neighborhood when a client tells us they are looking for a new home there. If the client tells us what they need, we can use our marketing force to uncover potential home sellers and off-market listings. Recently we did this for a client looking for a home in a luxury subdivision. We received three calls back in response to our mailing and networking efforts! Most importantly, our client got to see the home and consider an offer on it. As one of the Best Edina Real Estate Agents, I provide Full Service Buyer and Seller representation. I have over 20 years experience and specialize in the Edina and Minneapolis Luxury Homes for Sale market. I have the experience, network, and drive to find homes for you under any market conditions! Contact me anytime and we will work on more solutions for finding inventory in a limited market.