How to Buy and Sell a Home in the Twin Cities Real Estate Market
Discover the Twin Cities Real Estate Market: A Goldmine for Savvy Buyers and Sellers
Attention, home buyers and sellers in the Twin Cities! If you're navigating the Minneapolis-St. Paul real estate landscape, you're stepping into a market that's buzzing with opportunity, especially for sellers. Why? The answer lies in the historically low inventory levels that tilt the scales in favor of those listing their homes.
A Seller's Market Defined by Low Inventory
Recent insights from the Minneapolis Association of Realtors highlight a significant drop in available homes—down by 26.3% at the end of 2016. With a mere 1.8 months' supply of single-family homes and even less for condos and townhomes, the Twin Cities market is in an unprecedented state. Properties priced under $350,001 are especially scarce, offering a mere 1.3 months' supply. This crunch means that for real estate agents in Twin Cities, guiding clients through this landscape requires expertise and strategy.
Buying a Home in the Twin Cities: Tips for Success
Despite the market favoring sellers, buyers remain undeterred. The pursuit of homeownership continues, with buyers and their real estate agents in Twin Cities braving the winter chill to find the perfect home. In this competitive environment, well-presented properties often receive multiple offers quickly, selling at or above the asking price.
Who's buying? Millennials stepping into homeownership and Baby Boomers seeking to...