Spring Housing Market Twin Cities

Spring - Prime Time For Home Sales

Spring – The Best Time to Sell Your Home!

It’s officially Spring!  Birds are chirping, flowers blooming, and “Home for Sale” signs as plentiful as dandelions on your lawn after a rain shower. Wait! What? The calendar says Spring but that is apparently fake news since I am looking out the window at 18 inches of snow we were just gifted and shaking my head.The truth is the only Robin I saw was wearing a parka and snow boots. Not a single crocus is shoving a brightly hued head out of the earth. Even the forsythia has yet to bloom. And Home For Sale signs are not so plentiful at all with inventory levels of available homes at an all-time low in the Twin Cities.However, what I have witnessed is an army of serious home buyers out in the marketplace. Yes, a plethora of buyers whose pockets are bulging with pre-approval letters, down payments and closing costs. Isn’t that great? It depends. It’s outstanding if you are a seller. 

The Twin Cities Housing Theme is Short on Supply, Big on Demand

Right now there is an extraordinary imbalance in the Minneapolis-St. Paul real estate market which favors sellers under the $500,000 price point in a big way, and I'm talking really big! New listings in March were down 17.5% compared to last year at this time and inventory of homes down 26.1%. That translates into 1.7 months supply of inventory. So what exactly does that mean? If no new listings enter...