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Twin Cities housing market gets tighter, with fewer than 10,000 homes for sale

May 25, 2018 by pmcdermott Leave a Comment

There is now an extreme imbalance in the Twin Cities housing market with the demand for homes outpacing the number of homes for sale in the market. There were only 9,200 homes for sale in the Twin Cities metro area in April, which is the first April in decades that house listings have been below 10,000. The shortage of listings has put a drag on home sales and driven up the price of home prices.

Full Article-Buchta, J. (2018, May 23). Twin Cities housing market gets tighter, with fewer than 10,000 homes for sale. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Filed Under: Twin Cities Real Estate News

Twin Cities home sales plunge more than 12 percent as supply thins even more

April 21, 2018 by pmcdermott Leave a Comment

Home sales in the Twin Cities have fallen over 12% in March from a year ago. The inventory of homes for sale in the Twin Cities is 26% lower than last year and sellers are receiving nearly 100% of their asking price. Demand remains high for homes especially in entry level homes or anything under $250,000.

Full Article-Buchta, J. (2018, April 19). Twin Cities home sales plunge more than 12 percent as supply thins even more. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Filed Under: Twin Cities Real Estate News

Lack of affordable homes pulls down Twin Cities’ February closings

March 21, 2018 by pmcdermott Leave a Comment

Home sales in the Twin Cities have fallen from a year ago. This is not due to a lack of demand, but from a lack of homes for sale. In nearly every other measure of the real estate market has indicated continued strength.

Full Article-Buchta, J. (2018, March 16). Lack of affordable homes pulls down Twin Cities’ February closings. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Filed Under: Market Reports, Twin Cities Real Estate News

Final data show 2017 was a great year to sell a house in the Twin Cities

January 25, 2018 by pmcdermott Leave a Comment

In 2017, Twin Cities home sellers experienced the best year and for home buyers it may have been one of the worst in recent memory. Sellers were clearly in the driver’s seat last year as the supply of homes for sale was at a 15 year low and median home prices hit an all time high. Buyers saw increased prices and competition for fewer listings, especially in entry level homes.

Full Article-Buchta, J. (2018, January 23). Final data show 2017 was a great year to sell a house in the Twin Cities. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Filed Under: Twin Cities Real Estate News

Banging hammers and year’s end: Twin Cities new home construction leaps in December

December 29, 2017 by pmcdermott Leave a Comment

2017 was a year to remember for Twin Cities real estate and new construction activity continues to surge at year’s end. Building permit activity has increased with single family homes by 36% compared to last year along with similar growth in apartment construction.

Full Article-Buchta, J. (2017, December 27). Banging hammers and year’s end: Twin Cities new home construction leaps in December. Minneapolis Star Tribune.

Retrieved from www.startribune.com

 

 

Filed Under: Twin Cities Real Estate News

Shortage of listings driving up Twin Cities home prices

November 19, 2017 by pmcdermott Leave a Comment

The shortage of home listings in the Twin Cities is fueling higher home prices and quicker sales. Prospective home buyers in the Twin Cities need to be ready to make quick decisions and prepare strong offers.

Full Article-Buchta, J. (2017, November 15). Shortage of listings driving up Twin Cities home prices. Minneapolis Star Tribune.

Retrieved from www.startribune.com

Filed Under: MyTwinCitiesRealty.com, Twin Cities Real Estate News

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(612) 205-7022
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