The Minnesota Realtors put out their annual housing report again this year in early February. Following are a few key metrics from the 2025 housing report that may be of interest to both buyers and
Latest Metro Area Real Estate Market Update
Dated: August 31 2022
Views: 24
Despite everything you hear and see regarding the real estate market - it is still a GREAT time to buy or sell a house or any property. Our market, in the 13 county area, has a history of swings, but not usually as extreme as many parts of the country. Real estate value is still a product of supply and demand and…location!
Here are some highlights from the Minneapolis Area Realtors from their July report:
Median sales price was up 7.1 percent to $375,000, the slowest increase since June 2020
Buyer activity was down, pending sales fell 23.3 percent
Homes took 22 days to sell, 15.8 percent longer than the 19 days last July
As always, if you want to dive deeper into our monthly housing report here is the link: MAR News
Also, I saw this news story recently on KARE 11 that I thought was interesting from a national perspective. According to the news story 75% of the nation’s housing markets are overvalued. The Twin Cities market is at the lower end at 20% versus cities like Phoenix and Boise that are overvalued by 70%. See KARE 11 story for more on that.
This is a lot of information out there to dissect if you are considering buying or selling a home or property anytime soon. Please remember that I am here to help you through the process for a successful real estate transaction. Call me anytime for a free updated market analysis of your property.
Ruth Lecy
With over 35 years of experience in residential real estate I have the expertise you are looking for. My experience spans from land and lot sales and purchase; to first-time buyers; to luxury multi-m....
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