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Twin Cities Housing Market Stats January 2017

Brand New Year and Same Old Story

January may be the first month of a new year but for the Twin Cities Housing Market the story is old and has been told over and over again, not enough homes for sale to satisfy buyer demand. How much this will change depends on seller listing activity, interest rates, and rising home prices.

What was up over the same time last year? Pending sales, percent of original list price received, median list and sale price with new listings up slightly by 3.1 percent.  What was down? Days on the market before sale was down by 7.1 % at 79 days. The really big change was the inventory of homes for sale, which was 25.4% lower than last year resulting in 1.6 months to sell out the supply of homes. That figure was down a whopping 30.4% over January 2016. 

Twin Cities Market Outlook Short Term

This situation of incredibly low supply is causing a great deal of frustration for those eager to purchase a home, especially in the first time buyer category.  It is the norm for desirable properties having accepted offers in less than a week of hitting the market with sellers enjoying multiple offer situations. Good news for them and not so good news for buyers.

Employment is strong and steady and even with decreasing rents for the beginning of the year, it remains more costly in many cases to rent as opposed to buying a home. According to Rent Jungle, as of January this year, the average apartment...

Five Reasons The Minnesota Property Group Team is Extraordinary

TopTwin Cities Real Estate Agents

Real estate in MN is the story about homes and about the people and the families that live and love in them. It is also about the real estate professional helping a family sell or buy a home and whether it is their first home or their last, the agent has a golden opportunity to become a hero in their narrative. Here at the Minnesota Property Group, we have a few heroes! Talking about them, even bragging a little bit, is the favorite part of my job as the content creator.

Five uniquely talented professionals came together as a team with one common goal; providing the best service by treating each client like a member of your family. (This paid off in July 2016 with being recognized as "America's Best Real Estate Agents" by Real Trends, a designation given to less than 1% of agents and teams nationally.) We already heard from Joe Houghton, the RE/MAX Results agent that leads this team. He is the one prominent reason this group is the best. It is his vision and plan that moves the team forward and inspires them to grow and reach their full potential not only as individual agents but as part of the team.  The four other reasons this team is extraordinary are members, Derek Irving, Mike Milne, Andrew Klinkner and Paul Mcquire who make up the strength of this great team. Here are their stories. 

Mike Milne 

My real estate story is one of appreciation. This past year completed my third in real estate and by all accounting it was fantastic! Every transaction brings a new situation and challenge. This is the opportunity that allows me to evolve in this business. I’m inspired to learn and improve because I know this will result in better service for my next client as I help them with the purchase or sale of a home.

What I love most about my work is that each person I meet has their own unique story, and it is truly an honor to be...