The "spring market" doesn't wait!

It feels like spring already, right? The weather...maybe not so much, but in the real estate market it sure does. It's a buzz out there to put it lightly. You've heard similar things for the past few months, and even the past few years, but you could say definitively today that there has never been a better time to be a seller of residential real estate in the Twin Cities. 

Median sales price is up 10% over the same time last year, which were already record highs. 

Inventory is down 40% over the same time last year, which was already low. 

You may have heard me reference that when there's less than 10,000 properties for sale in the Twin Cities, inventory is considered tight. In 2020 it crept over 10,000 in May and June but otherwise hovered in the 8-10k range. As of last week, there were only 5,100 properties listed. (For perspective, in January of 2008, there were 30,000). As a seller, it's your market. 

With that we should note, as a buyer, not all is lost! While prices are high, the low rates keep affordability in reach. The median household in the Twin Cities still makes 53% more than the minimum required to buy a median priced house. Compared to other markets nationally and internationally, homeownership is well within reach here in the Twin Cities and we are Makin' it Happen for buyers every day. 

Call to talk more any time, shit's crazy out there :)