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Found 29 blog entries about Market Updates.

Welcome back for another recap of the Twin Cities real estate market! As summer comes to a close, we will be looking to see how the trends compare to last year at this time, and possibly what they can tell us about how the fall season is going to kick off as we enter the final quarter of the year. Let's take a look.

If you tuned in last month, you may have noticed that we witnessed a sharp turn in direction for pretty much every statistic we follow. While a dip in the numbers is pretty typical for summer here in Minnesota, the severity of the turn was a little surprising. Therefore, we were anxious this month to see if that would continue, or mellow out a bit. Turns out it was the latter.

The Average Sale Price peaked in June to the highest we've…

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Whether you love market data or you really don't care for it, there's no denying that it is at least valuable as you approach making one of the biggest financial decisions of your life. If you love it, that's great because you're one of us! For the group that leans towards the latter, don't worry - we've got your back. Our eyes are glued to these numbers stronger than a 90's kid in front of the TV during morning cartoons. This is particularly important in today's market, as we're starting to see some big swings in a different direction than we've had all year. Months long trends reversing, yearly highs, etc...Is this a temporary shift? Is this the new norm? Let's dig into the numbers and see if we can't find out. Let's start with the…
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You know, we have been doing the market recap every month for over two years now. You'd think that after a while it would start to feel monotonous, but for me, every month is like having a new ride to try at Valley Fair, and you just never know what you're going to get until you strap in. And yes, I am one of the people that stands in the long line at the front of the rollercoaster seeking that little extra bit of thrill.

Whatever publication you get your news from, there's about a 100% chance you've stumbled upon a few articles related to the economy and whether it's affecting the housing market. Well, we won't be solving that entire mystery today, but the good news is that tracking real estate data is something we do quite well. So, let's break it…

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Rinse and Repeat...but with a twist?

At first glance, May of '22 is looking like a repeat of last year, with many of the numbers coming in very similar to last spring. However, there are a few signs that we may be shifting gears a bit in this ever changing Twin Cities real estate market. Read on for a breakdown of each category, and our thoughts on where things might be headed.

Let's start by looking at the Average Sale Price, which landed at just under $436k ($435,944 to be exact). Once again, this is officially the highest we have ever seen on record, and was the fourth month of continuous growth. The Median Price also grew to its highest level, landing at $375k. These two metrics are the most different of any from last year due to prices rising…

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It just sort of feels like everything's a bit extreme right now, doesn't it? Well, the Twin Cities real estate market is certainly no different. And though things have seemed a bit imbalanced since the beginning of COVID-19, the paragraphs below describe some of the most extreme numbers we've ever seen when it comes to monthly market stats, over two years since the pandemic started. Let's take a look.

We're going to have to get this elephant out of the room right away, because this elephant never skipped breakfast there's nowhere to stand while it's in here. That elephant would be the Average Home Sale Price for the month of April, which came in at a whopping $430k! That is almost a $23k jump just from last month, and is roughly $16k higher than…

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We Minnesotan’s all know that feeling of that first summer breeze that hits your face and lets you know that warmer days lie ahead. Isn't it great? Well summer is back, just look outside. What's that you say? All you see is mud and sleet? Oh my, you didn't think I was talking about the weather, did you? Oh gosh no, I'm talking about the real estate market of course, because we're back to summer-like numbers, and more extreme "temps'' than we've ever seen. Let's take a look!

When you look at the average Days on Market for homes in the Twin Cities, you can see it's been climbing steadily since last July. Normally a sign that things would be balancing out a bit in the market, Realtors welcomed longer selling times with open arms. Now, just take a look at…

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Well, hello again. Back for more, I see? That's good, because I have more riveting real estate market info for you as we break down what February was like here in the Twin Cities. When we left off last month, we were desperately looking toward spring to bring us some welcome balance in this very unique market. So is spring here yet? Err...kind of...I guess...not really...hopefully soon? Let's just take a look.

The biggest helper would have likely been a big increase to the overall housing inventory, but I am a bit bummed to report that we didn't see a big boost. Total Units Available landed at 4,106. While that number is up a bit from January, it's still over 1,200 less than where we were a year ago. New Listing inventory was actually closer to last…

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And we're off! 

New year, new Twin Cities real estate market. Last year brought us so many highs and lows. 2022, can we count on you to chill out a bit and help us keep our sanity? Speaking of chill, that's definitely been the theme so far with an eight year January low of 10.4 degrees. Is the market frozen, too? Or just heating up? Let's take a look.

Let's start off on a positive note. The New Listing inventory was trending downward at a scary rate, but we saw January kick up sharply to 3,366 homes hitting the market - way up from December. Last year, we also faced some large obstacles with how low the Average Days on Market got (less than a week at times), but that has now gone up by two days for seven consecutive months, landing at 20. Finally,…

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Written by VIBE Owner/Broker Steve Anderson

That's a wrap!

Just when we thought maybe we'd kick off a more traditional new year - BAM! Omicron has essentially taken a hold of the Twin Cities, and many of us find ourselves reliving some of the practices of past quarantines, isolations, canceled events, etc...as I write this, even our household is all COVID-positive (we're doing okay), and part of us it feels like this will never end. However, news from parts of the world that are ahead of us does seem encouraging. At least for now.

So how did 2021 leave us in regards to the housing market? We left off acknowledging the roller coaster of a year it had been, but ever so curious of what the 12th and final month of the year would tell us. Let's take a…

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Written by VIBE Owner/Broker Steve Anderson Well, here we are at the end of another crazy year in real estate. 2021 has been like riding a roller coaster where the safety harness is just a little too loose, and while it wasn't the worst ride we've ever been on, we're still ready to get off this thing. So, how did it shake out with the numbers? Some went as expected, but there's a surprise twist at the end, so stay tuned.  What didn't surprise us? Well, the sale prices. They didn't change much - in fact, they hardly changed at all. The Average Sales Price came down less that two thousand dollars to $392k, which is the same as it was in September. And the Median Sales Price dipped to $338k, again, only down about two thousand…
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