Looking for a house, when does the inventory "peak" in the summer? (Plymouth: to live)

[Fuzzoff]

Can't seem to find much in the areas and price range (300-400) we are looking for (Eden Prairie, and the Wayzata portion of Plymouth/Maple Grove.) Just wondering if the late spring has suppressed the inventory a bit?

Any professional opinion would be helpful! Just trying to decide if we should wait it out a few weeks, or settle now.

[golfgal]

I would say it usually peaks in May/June however, the issue you are most likely having is your budget in that area, not so much inventory. You are looking in one of the most expensive areas in the metro and while there will be some homes in your price range, there won't be all that many relative to other areas.

[BillWallace]

You can see the last 7 years of data on this report here - http://mplsrealtor.com/downloads/market/MMI/mmi.pdf Look at the new listings one (page 3) and the last page showing total listings.

[GBCommenter]

Originally Posted by golfgal

I would say it usually peaks in May/June however, the issue you are most likely having is your budget in that area, not so much inventory. You are looking in one of the most expensive areas in the metro and while there will be some homes in your price range, there won't be all that many relative to other areas.

Not that I'm an expert by any means, but I would agree. May/June is probably peak, and probably still July/August (though that is the hottest, most humid months in MN).

As mentioned, you are looking in some of the most prime areas for housing, so 300-400 is probably on the low end for that area, even in this market. Do you absolutely have to live there? To open your choices, you may have to either expand your budget or expand your area of search.