Twin Cities Housing Market

How to Buy and Sell a Home in the Twin Cities Real Estate Market

Winter photo of the Snowy Twin Cities Metro

Attention Home Buyers and Sellers | Twin Cities Real Estate Market is Hot

If you have been looking for a home to buy or thinking about selling your current home you already know what I am about to tell you. The one extraordinary factor that describes the Minneapolis-St. Paul real estate market is that due to historically low levels of inventory, it favors the seller in a really big way.

How big? The latest data from the Minneapolis Association of Realtors shows us the end of 2016 inventory levels down 26.3 percent while months’ supply of homes was 1.8 in the single-family category, 1.4 for condos, and townhomes a mere 1.1 months of inventory. Looking at this from a perspective of the price range, anything below $350,001 is at 1.3 months’ supply or less. When you take into account that 5-6 months of supply is considered balanced, and the current supply is at an all-time low when we compare it to data going back to 2006, this is clearly an extraordinary situation.

How to Buy New Home in the Twin Cities

A house with 2017 written inside it a arrows and roads leading the the home...

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