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Winter is On the Way. Be Ready!

Winter Minnesota Property Group

Ready or Not, Winter is Here

If you have been in denial that winter is right around the corner, it’s a reasonable assumption that you are probably not ready to welcome it. That small dusting of snow on the ground should be a hint. It's winter's way of saying, "Ready or not, I'll be visiting you soon!" 

Getting caught off guard happens to the best of us. Take heart. Until we get hit with single digit temperatures or significant snowfall you still have time to get ready for the season. More good news, a warming trend is expected to move in this week.

For those of us who meant well but never quite got around to tackling the fall home checklist, Mother Nature is giving Joe Houghton us a second chance. She is nice that way sometimes. Kiss Here are the fundamental ways to prepare for the worse that winter can throw at you.

Winter Minnesota Property Group...

Twin Cities Housing Report September 2018

5315 Howards Point Excelsior Mn

The Minneapolis-St Paul Housing Market

Some say there are indications in the September housing stats that the market might be starting a shift towards balance. New listings increased 5.9 percent compared to September of last year. However, when we look at months supply of inventory that was down 3.4 percent.  So what does this mean?

Let’s keep in mind that although we see balance in the market pricing tier for $500,000 and above, inventory levels in all other price segments are not even close to approaching balance which is a five to six month level of homes for sale. If you are one of those hoping to break into the housing market, your choices are limited with desirable properties selling like lightning going through butter.

Probing into the data, we see that median sales prices are still higher than last year by 6.5 percent when we look at month to month and 7.7 percent over last year when we compare the year over year data.  Closed sales are down 5.8 percent and pending down 1.8 percent with properties spending 16 percent less time to sell.

Interest rates are bobbing around the 5 percent rate for mortgages which, combined with higher prices of homes may be sidelining some buyers and forcing others to rethink their home buying strategies. These...

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