Selling Your Home in Minnesota? Partner with the Top Realtor for Maximum Returns

MN Realtor Reflections

MN Realtor Reflections 

It's mid-September, and I find myself emersed in the end-of-summer reflections and, at the same time, feeling the excitement of a new season soon unfolding. But first, to be clear, I am in no hurry to kick summer out the door like a discarded lover because I prefer fall's embrace. Autumn is a spectacular season, and I adore crackling fires, the nip of crisp air, steaming bowls of soup, and pumpkin, everything. However, each season deserves its full measure, and summer is short enough. We'll know when it's time to pull out the favorite turtleneck and crockpot, but with temps still in the 70's and low 80's, fall needs to wait its turn. 

Real Estate Agents in MN 

Lucky us, in The Twin Cities, we celebrate all four seasons: spring, summer, fall, and winter. However, the lines between when one ends and the next begins are often blurry. I decided to take an informal survey of friends and neighbors on when to let go of summer and move on.

  • Labor Day weekend is the end of summer
  • Summer ends when the kids go back to school
  • End of the Minnesota State Fair means the end of summer
  • Meteorological summer is over August 31
  • When the pools close, wave bah-bye
  • Summer is over when I hang up...

Twin Cities Housing Review July 2019

Twin Cities Housing Market Review From Top Local Realtor

There are currently numerous factors that affect the housing market. However, right now, more than anything, it is the consistent lack of homes available for buyers in the lower pricing tiers. This fact holds true both in the Twins and in most markets across the nation.

It's significant that while home values are still increasing, it is slower, more closely matching income and wage growth. While you may be frowning if you are thinking about selling your home in the future, the alignment is healthy for the market. We all knew that sharply escalating prices for homes could not continue indefinitely.

MN Housing Market Trends Have Been Consistent

While we continue to see constraints on available homes for sale at the first-time buyer level, the market is becoming more balanced as we move up to higher price ranges. So sellers are still enjoying a market that favors them under $500,000.

Meanwhile, lower interest rates are helping to continue to make housing affordable despite the rising prices. Even though new listings were up 1.8 percent over July of 2018, inventory levels in the Twin Cities fell 4.4 percent. Despite the fact, demand remains strong, with closed sales up 4.5 percent and pending sales up 3.2 percent.

Although prices are not rising as quickly and steeply, the median selling price was up 5.9 percent over July of last year and up 7 percent as a rolling 12-month comparison. With days on the market flat at 38, homes sell just as quickly even though prices are going up....