JR's Blog
Housing Report - May 2023
As temperatures rose and flowers bloomed, the real estate market in Minnesota stayed relatively cool during the month of May. Closed sales fell by almost 26% compared to the same period last year, ending the month at 5,773. New listings were also down 15.3% while pending sales dropped about 16%. But inventory ticked up to 1.9 month’s supply, a nearly 27% jump versus last May, providing more purchasing opportunities for some house hunters.
May year-over-year summary...
Market Update: Andover MN - February 2023
According to the real estate market data for February 2023 compared to last year in Andover, Minnesota, there are some interesting changes to note. While new listings increased slightly, the number of closed sales decreased significantly by 18.9%. However, the median sales price and average sales price both decreased, indicating a decrease in the overall value of homes in the area.
Despite the decrease in the m...
TWIN CITIES Housing Market Update March 2021
Normal spring increases in sales activity, coupled with relaxing COVID-19 policies, created a very busy March real estate market as buyer demand continued largely unabated in the face of rising home prices and mortgage rates.
CLICK HERE TO WATCH THE 2 MINUTE VIDEO UPDATE!
Watch the two-minute video update!
Even as hopes of a phased June reopening all but faded, real estate activity continued to strengthen.
After double-digit year-over-year declines in signed contracts for April and May that pent up demand was released in June.
In the Twin Citied, June showing activity surpassed 2019 levels while June pending sales reached their highest level since 2004. The fact that demand is recovering faster than supply should mean stable pricing fro most areas and market segments.
The decrease in closed sale...
"Home prices are rising too rapidly because of the housing shortage, and this lack of inventory is preventing a stronger expansion in home sales." Lawrence Yun, NAR Chief Economist
Find out what your home is worth in today's market. FREE Market Analysis of your home. CLICK HERE for more info.
Despite strong buyer demand, sales totals are lower due to a lack of affordable supply.
Find out what your home is worth in today's market. FREE Market Analysis of your home. CLICK HERE for more info.
2 Minute *Video* Twin Cities Real Estate Market Update
Buyers are beginning to return in force this Spring. For well-priced homes in desirable locations, competition is fierce. View this short, two-minute video for a complete market update.
Find out what your home is worth in today's market. FREE Market Analysis of your home. CLICK HERE for more...
