July 2018 Snapshot – Twin Cities Housing
As we look at the data for July, we see the reason for buyers to be a bit more optimistic. Although this is still a market that favors sellers at price ranges under $500,000, we did see an increase of 4.1 percent in new listings when compared to July of last year. However, buyers should hold off popping the cork on that bottle of champagne because it is sellers that have a reason to celebrate with the median sale price up 6.6 percent over the same time last year. Pending sales were up 0.4 percent and closed transactions were flat with days on the market falling 17.4 percent and inventory levels down 13.4 percent.
Although we hear the terms “housing market bubble” and “real estate market shift” being bandied about by analysts, economic indicators may be pointing to a slowdown but not a bursting bubble. Past the middle of the year and heading into the end of summer we continue to see record low unemployment and the longest running bull market in history, in spite of trade wars and rumblings about impeachment. While we may be wise to pay attention to the former, history proves the latter will have little or no effect on stocks, housing or the economy in general....
1512 Fairfield Rd S, Minnetonka, Minnesota 55305
Offered at $524,900
Open House: Sunday 8/12 2:30-4:00 PM
If you are looking for a great family home in a sought after community with excellent schools we have the perfect choice for you. Consider this gracious and elegant three bedrooms three bath residence in Minnetonka. With 2376 square feet of living space this traditionally styled two story home not only fits the needs of a family but is also the perfect setting for entertaining.
Prepare to be inspired by classic style with undertones of warmth and contemporary elegance. From your first glimpse, it is obvious this home is meticulous. We are very impressed, and you will be too!
8917 Morris Road, Bloomington, MN
3 Bedrooms, 2 Baths, 2020 square feet
Offered at $299,900
We proudly present our newest listing. Located in an established neighborhood in desirable west Bloomington, this property would make an exceptional family residence for a first-time buyer or move up situation. It would also be an excellent option for the empty nester. This home is meticulous, and we think the fussiest buyer will agree. When you see the tasteful updates, expect to be impressed. The fresh décor is right on point. Let’s take a closer look.
At the rear of the home are my absolute favorite areas, the kitchen and dining space. The kitchen is bright, open and extremely well designed to make the best use of space. There are ample cabinets and countertops. Two windows let in plenty of light and make the kitchen bright and cheerful. The classic cherry cabinets add just the perfect touch of warmth. And did I mention the stainless steel appliances? Now I did!