State of the Twin Cities Real Estate Market for 2017
Frank D'Angelo
State of the Twin Cities Real Estate Market for 2017
I’d like to address the ‘state of the local real estate market’. I believe this year will be a historical year that may impact all home owners for many years.
The election is finally behind us and America has spoken. Also, both Wall Street and the Feds have weighed in post transfer of power at the White House. Regardless if you’re happy with the results; our local and national economy is firing on all cylinders. Coupled with the fact that it is still reporting peak sale prices for single family homes in the greater metro areas of the Twin Cities.
Simply from a housing 'Supply and Demand' perspective, home sellers are in the right place at exactly the right time right now. The available homes for sale in the metro are at record lows and the median sale prices for the metro are also near record highs. That makes for a perfect seller market well before our lush lawns and landscaping gets to even factor into what most ‘traditional’ home sellers will likely do this year.
Now we all know what ‘traditionally’ happens in Minnesota once spring hits in March. The madness begins and home sellers frantically get their yards in order to get their homes on the market for picture perfect situations. This year, that could be too late. If you or someone you know might be home seller or buyer this year; we need to get connected as soon as possible to explore your best options. Many homeowners make the mistake of playing around on the internet with resources like Zillow and make strategic home ownership decisions without the guidance of a real estate professional.
I recommend you position yourself with an informed and connected real estate professional at your earliest convenience. Check out the data and illustration below and I look forward to hearing your thoughts soon. Have a great 2017.
