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Feel The VIBE

The market update of threes! Everything is coming in sets of three this month, so that'll be the theme as we examine just what's going on in today's Twin Cities real estate market.

For starters, let's call out the major outlier here...average sale price for 2020 is now almost $100k higher than it was this time in 2019 - wow! August last year was just under the$290k mark, and for this year we are broaching almost $380k. While it has certainly been a difficult year to track, there is no doubt that the limited home inventory this year has caused a surge in home prices like no other.

As for our other indicators, most everything seems to be happening for the third month in a row. New listings are slightly up over last month, and at the same pace

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Como Park, located in the Northwestern area of Saint Paul, is best known for Como Park Zoo, the Conservatory and beautiful Como Lake. If you’re looking for a recreational haven in the midst of the city, Como Park won’t disappoint. There are a wide variety of free or reasonably priced activities, services and educational opportunities for residents in the neighborhood and park visitors. Enjoy boat rentals, a golf course, bike paths, picnic areas, sports fields, and pavilions. This area is also home to numerous restaurants where you can kick back, listen to live music, and enjoy your surroundings. Check out some highlights of Como Park below.

 

Como Park Lake / Como Park Zoo / Marjorie McNeely Conservatory

Como Park is the most widely used park

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It’s September already, which marks almost six months of living in the midst of a pandemic. With all the difficult changes this year has brought, it’s never been more clear that our community is at the forefront of what we do. Our neighbors, clients, and friends are the foundation of VIBE Realty. While our world in real estate continues to move forward, we remain empathetic toward our friends in industries that continue to struggle. 

It’s been humbling to witness how the Twin Cities have come together in a collective effort to support and elevate one another during these times. But the outreach can’t stop yet. Local businesses, artists, gyms, musicians, and restaurants continue to feel the negative economic and financial effects of COVID-19. Here are

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The West 7th neighborhood, also known as Fort Road or the "West End", stretches along the western bluffs of the Mississippi River from downtown Saint Paul to Fort Snelling. This area enjoys beautiful river views and commercial spots that are home to many historic family-owned businesses such as craft breweries, galleries and antique stores. It’s a popular dining hub, with sleek restaurants and trendy cafes in converted industrial buildings, combined with decades-old classic restaurants and dive bars. The West 7th dining district is known for the iconic Cossetta’s, Mancini's Char House, and go-to Minnesota Wild pregame spots like Tom Reid's and Seventh Street Truck Park. Victorian mansions (the ultimate eye-candy for us) cluster around Irvine Park, and

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As we look at the numbers for July, we'll be looking at the real estate market's health in general, without as much emphasis on COVID-19. It's not to say we're not focusing on the impact this disease is currently having, but historically there is almost always a summer lull, so we want to be sure we're taking that into account.

School start and end dates play a large variable in how the real estate seasons play out. Since “going back to school” looks a bit different this year, we will have to closely monitor how this impacts the real estate market. Will it put a damper on the typically very strong fall market? Time will tell.

Here's how the numbers stacked up for July...The number of new listings went slightly up, which is encouraging in a

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Not all is lost here, folks. While some might say 2020 is a wash when it comes to enjoying our much-loved Minnesota summer activities, we knew the State Fair wasn't going to leave us hanging. When they announced the cancelation in mid-May due to COVID-19 (which was not an easy decision for the board to make), we were hoping they'd come up with a little something to accommodate our fair fix...cue The Minnesota State Fair Drive-Thru happening Aug. 20-23, 27-30 and Sept. 3-7.

Our great Minnesota get-together has found a new way for us to enjoy what it is we all look forward to each year...the food. The fairgrounds will be hosting 16 different vendors who will be selling you their food wares along a 1.5 mile route and you get to drive-thru and grab the

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Written by Steve Anderson, Broker at VIBE Realty

The numbers for the first half of the year are officially in. Typically, in the Twin Cities, spring and fall are by far the two busiest seasons, but when COVID-19 became a factor back in March, we started to see it take its toll on the real estate market. So how did everything shake out? Although June has been stronger than usual, it didn’t quite make up for the lighter spring.

The general consensus seems to be that sellers were understandably hesitant to open their doors during the initial spread of the virus. As regulations started to loosen, homeowners became more comfortable with selling. And while the amount of new listings did go up slightly in a month where they would typically go down,

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In honor of the 4th of July, we’re reflecting on the joys of independence. Home ownership is considered by many as ‘The American Dream’ and there are dozens of reasons and benefits to owning your own home as opposed to renting. Most of those reasons come down to something we’re celebrating this weekend: freedom. Freedom from a landlord, freedom from design that you didn’t choose, and freedom from rent that gives you no equity. Here are 5 reasons why being a homeowner can grant you the independence that you may be looking for.

 

 

You Can Start Building Equity

Renting may come with less work upfront, but the reality is that your hard earned money is likely going toward someone else’s mortgage. That means you’re building their equity, rather

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Written by Steve Anderson, Broker at VIBE Realty

Spring Market 2020: Aggressive Buyers Make for Happy Sellers 

As spring’s real estate market tries to find its stride, May’s data suggests conditions remain very favorable for sellers, but mixed for buyers depending on price point and motivation. New Listings have seen a slight uptick, resulting in a much needed increase in inventory. This is good to see going into summer, as this is normally when inventory levels would start to dip following a strong spring.


However, even with more inventory, houses are selling at a historically fast pace with an average market time of just 16 days. This is making it even more competitive for buyers and is resulting in higher prices for sellers. While

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With Earth Day not far behind us, the buzz word is still going strong: sustainability. It's a movement that is becoming more accessible for us to achieve in different areas of our lives, and being in real estate, sustainability in the home is a topic we'd like to shed light on.

As a homeowner, you have options to make environmentally-conscious choices that not only make a contribution to improving the environment, but also can play a role in lowering the cost of running your home. Say what?! Yes, you can actually save money over time by making a few sustainable changes that can play into saving energy, water, and maintenance on systems and appliances. Here are some ways you can create a healthier environment for yourself and your family by bringing

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