Real Estate Update ─ Market Remains Strong

Twin Cities Metro home sales market remains strong

Real Estate Update ─ Market Remains Strong

Twin Cities Metro Home Sales and Prices are Up

While a normal seasonal slowdown is underway for Twin Cities Metro home sales, it is still a seller’s market. Demand is especially strong for homes in the $190,000 – $250,000 price range, followed by mid-range homes priced from $250,000 to $350,000. An overview:

  • Home sales are up ─ Twin Cities Metro home sales have increased by 5.7 percent over September 2015, according to the Minneapolis Area Association of Realtors.
  • Homes are selling faster – 56 days was the average time for homes to sell last month, which is a “13.8 percent decline from last year and only two days away from the record low set in 2007,” according to Jim Buchta of the Star Tribune
  • Home prices are increasing – up 3.6 percent from a year ago
  • Buying conditions remain prime ─ mortgage rates are hovering near all-time lows and job growth has been strong.
    Note: Mortgage rates can vary all day every day by individual. Contact Bob Strandell for more information.

What does this mean for you?

  • If you are planning to SELL your home, market conditions are in your favor.
  • If you are planning to BUY a new home, you may want to jump in sooner than later. Low mortgage rates will pay off in a big way over time and you can find the right home before prices continue to climb.
  • If you are looking for NEW CONSTRUCTION, many great values are available.
    JW Real Estate Group can help you find available land and facilitate the build process with the best local builders. We can save you money by negotiating the whole package of land purchase and construction. As your advocate, we will work on your behalf to save you time, money and the stress of negotiating the land purchase and build process on your own.

Need help to buy, sell or build? Call us at JW Real Estate Group (612-309-4749) for a free consultation. We can help you move forward on your dream.

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