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New Year, New VIBE  |  By Lianna Cotant

A space to gather.

A place to build relationships.

A lounge designed with events in mind.

Plus, beer on tap, shuffleboard, snacks and lots of cozy nooks to catch up on work. 

When I joined the VIBE team last fall, I heard rumors about the new office space, how “cool” it would be: all the amenities, the thoughtfulness put into the details, not to mention the location in the Blair Arcade. I wasn’t sure if the new space would truly live up to the hype.

I should not have doubted.

Stepping into the warm offices, filled with natural light, I love grabbing a spot in a booth where I can work and chat as agents come and go. The space is the physical embodiment of the tenants that guide VIBE:…

Hello, and welcome to another market recap, brought to you by VIBE Realty. This is a place where we analyze the Twin Cities real estate market from month-to-month, and break it down to try to better understand what's actually happening in our market. If you've been following along at all, you know it's been getting very interesting, as it appears the market has begun to shift in a different direction. We were anticipating October to bring us some interesting data once the numbers were available, and did it ever...let's examine. 

Normally I would highlight the most extreme change somewhere in the body or towards the end of this, but this time it's really a big deal, so I'll get on with it. One of the biggest indicators of what type of market we are in…

Welcome to the first official recap of the fall season here in the Twin Cities!

Seems like there's so much news going around about the housing market lately. Economic factors like inflation, interest rates, student loan debt and more are sparking questions about where the market is at and where it might be heading. Here in our recap, we rely on the most recent data to help us stay on top of what we're going through, so let's dig into last month's numbers. We don't usually start with the Average Days on Market (DOM), but it was one of September's most notable metrics. In just the span of one month, the average DOM grew by a full business week (5 days), which is its largest climb all year by far. It now sits at 19 days, which is just shy of…

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…

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…

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…

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…

 

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…

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…

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…