Minnesota Property Group

October Twin Cities Housing Market Review

October Twin Cities Housing Market

As we approach the end of the year, it appears that the Twin Cities housing market story for 2017 is pretty much repeating the theme of strong and persistent demand for housing with an ever-shrinking supply of homes to buy below $500,000.  We shouldn’t be surprised at the continuation of this trend when we look at interest rates and our local economy.

The 30-year mortgage interest rate dipped from 4.3% to 3.9%, an amazing bargain when you consider the long-term average rate is 8%. While nationally the unemployment rate is 4.1, in our own Minneapolis-St. Paul Metro it is 2.9, the third lowest metro unemployment rate in the country. Our thriving economy is diverse and vibrant, our workforce talented, our schools first-rate and with a robust arts community and 4-season recreation options makes our quality of life second to none. It’s no wonder we have one of the highest homeownership scores in the nation.

As we take a closer look at the statistics for October this year versus last year, we find new listings increased 3.1% although inventory of homes available fell a whopping 18%. This puts the month's supply of inventory at 2.2 which is 18.5% lower than last year. An undeterred 4994 buyers closed on a home last month, up 0.3% and pending sales were also up 3.9% from same time last year. Homes sold faster for more money, selling on an average of 52 days compared to 61 while the median sale price rose by 6.1% to $244,000.

Minneapolis-St. Paul...

The Minnesota Property Group - A Twin Cities Success Story

The Minnesota Property Group 

Real estate is about stories. Each seller, buyer, home, and Agent has a tale. Real estate is undoubtedly a challenging and competitive business, and it's also exciting and rewarding. The one thing most agents agree on is that it takes dedication, grit, and hard work to break into the business and to become successful. Being part of a robust and supportive team can often differentiate between a story with a happy ending and the other kind.

One of the critical elements to any successful group is a robust, supportive and talented leader, like veteran RE/MAX Results agent Joe Houghton. As the Minnesota Property Group leader, he brought together like-minded and talented agents and one content and marketing professional to form his team. As Marketing Director for the group, Joe has been an inspiration that led me to challenge myself and go where I had never gone before professionally. We connected three years ago when I had been booted from corporate America, and he wanted someone to create content for his blog and website.

That tentative story that began on a cold January afternoon in 2014 has become a successful narrative still unfolding. I have never regretted that decision even once. Joe has a talent for connecting with people to help them live up to their potential. If there is a harder worker than Joe, I haven't met him yet. If there is a leader more willing than Joe to try something new or make improvements, we have not crossed paths, and in a state known for the kindness and generosity of its people, if there is a more likable human than Joe, I have not found him yet. Now, let's hear Joe's story.

Joe...

Top Remax Real Estate Team in the Twin Cities

Twin Cities - Minneapolis

Twin Cities Real Estate Market Review by Top Remax Results Team

It’s that time again, the brand new year that marks the start of 365 days of new opportunities as well as new challenges. It is a psychological line of demarcation between what past and what will happen in the next 12 months. Some factors we can control and others we can’t but still, it is a fresh start. An opportunity to review and evaluate, amend and renew as we head into the new year. 

This is the time I look back and celebrate the accomplishments of the Minnesota Property Group of RE/MAX Results as a team, and mine personally as the team leader. While I celebrate the successful outcomes, the resolve to do better for my clients, my team, my community and my family is the cornerstone on which I will build my priorities for 2017.

Minnesota Property Group 2017

It Was A Great Year in Real Estate for The Twin Cities Top Realtors

The Minnesota Property Group, like the 2016 housing market, had a very successful year in local Real Estate.  As the team leader, it has been profoundly gratifying for me to...

The Minnesota Property Group Earned Ranking for 2015 Home Sales

Minnesota Property Group Among America's Best

Local RE/MAX Agents Named Among “America’s Best”

The Minnesota Property Group Earned Ranking for 2015 Home Sales

 

Plymouth, Minnesota July 26, 2016 – The Minnesota Property Group led by Joe Houghton with RE/MAX  is among the 2,691 RE/MAX agents and teams featured in the 2016 REAL Trends “America’s Best Real Estate Agents” survey. The agents included in the survey represent less than 1 percent of all real estate professionals in the United States.

On learning the news, team leader Joe Houghton said, “Our team focus is treating our clients like members of our own family to provide them with the best possible home selling or buying experience on the planet.  To have our team recognized alongside of so many hard working, dedicated real estate professionals is an accomplishment and we are honored to be named ‘America’s Best’. I’m so proud of my awesome team!

“America’s Best” is the industry’s largest ranking of agents based on homes sold in 2015. The survey is open to individual agents who closed at least 50 transaction sides or $20 million in sales volume and teams who had at least 75 sides or $30 million in volume.  The fourth annual ranking groups agents by...