The Twin Cities Spring Housing Market April Review
Market snapshot: Spring in Minneapolis-St. Paul and the theme of the housing market story is home buyers as plentiful as mushrooms after a spring shower and “home for sale” signs as rare as dinosaur fossils. Okay, I admit I am exaggerating slightly about the for sale signs but for many buyers, especially in the lower price ranges, it sure feels that way.
New Listings in the Twin Cities were down 8.3 percent compared to April of last year causing inventory levels to fall 19.8 percent with 10,916 homes available in all categories. Values continue to gain momentum with medium sale prices steadily inching upward with days on the market going in the other direction. The month's supply of homes was down 21.4 percent at 2.2 months and needless to say, sellers were quite happy. The short supply of inventory has caused closed and pending sales to be down from last April’s numbers.
Even though most decent properties that are priced to market are selling above list, quickly and with multiple offers, so far buyer demand remains incredibly strong. Even though many first timers have lost out on several properties they hang in there. In the Minneapolis-St. Paul metro, this demand is...
New Construction vs Existing Home
When you bought your charming starter home, it was perfect. As a newly married couple living in the Twin Cities, the 950 square feet with two bedrooms and one bath felt spacious after living in a one bedroom apartment. Now, two children later and you feel like your once spacious home more closely resembles a hobbit hutch and you know it’s time to move up to something larger. Like many young potential buyers in your position, you are facing the conundrum of should you buy another used home or opt for a shiny new one? Should I buy a new construction home or buy an existing home? According to a Zillow survey, 41% of buyers responded to having a preference for a newly constructed home, but as in every incidence when you are at a crossroad, there are pros and cons on both sides of the equation. When you purchase a home, there is never a one size fits all option and depending on lifestyle and priorities one choice, new vs. existing, may be clearly preferable to the other.
Pros of New Home Construction
Real Estate Agents in Edina, MN
The best Real Estate Agents in Edina, MN know the streets and neighborhoods of Edina inside and out. Most Realtors that work in Edina will at least know the basics. Edina is a first-ring suburb southwest of Minneapolis. The community is made up of 45 distinctive neighborhoods, many featuring tree-lined streets and well-tended lawns and flower beds.This city is also noted for its upscale neighborhoods of luxury homes. With highway access going north, south, east, and west enjoy easy access to all of the Minneapolis-St. Paul metro area. Downtown Minneapolis is 8 miles away and uptown a mere 5-mile jaunt!
Edina Realtors Tout the Award Winning Schools
Your child will receive a great education in the Public School System. As of 2015 US News and World, report awarded Edina High School a gold medal and ranked it #1 in the state and 197 in National Rankings. Newsweek also ranked it #1 statewide and 121 among all high schools in...