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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…

By now chances are you have seen a plethora of news articles painting a doom and gloom picture of the housing market. Terms like “bubble” and “crash” are plastered on every headline with comments about recessions and high interest rates. 

We are here to shed some light on the changing market, and why a good REALTOR® matters now more than ever. 

First, let us say the past few years we have been in an extremely unbalanced market. It’s been unhealthy and highly inflated, and to top it off, interest rates stayed historically low.

In the Twin Cities, we are seeing the market cool off slightly. But, it’s not all doom and gloom as one may think! We really needed some relief in the market, which appears to be shifting back to pre-pandemic conditions when…

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…

Think of your home’s exterior like the cover of a book (yes, cheesy we know!), but the exterior and its condition set the stage for what’s inside the home. Whether you’re interested in selling this year, or just want to make some improvements for your own enjoyment, boosting your home’s curb appeal is often an easy and generally inexpensive way to make your home look nicer and perhaps even add some value!

Love your lawn

Yours doesn’t have to be putting green ready, just make sure it’s getting proper water, trimming, and care! If you have some bald or thin spots, take some time this year to give those areas some TLC, you’d be surprised how much of an impact a lush green lawn makes!

 

Add in some fresh landscaping

Landscaping is such a…

Here at VIBE, we pride ourselves in doing everything we can to ensure you have the best experience possible with your real estate purchases, and take it from us, who you choose to finance that purchase can make a HUGE difference.

Here are the most important insights (from a Realtor’s® perspective) about choosing a good lender, and why it really matters.

1. )  Sometimes our recommendations to work with a professional can feel like we’re pushing you in a certain direction. But as Realtors®, we are fiduciaries, which means we must operate with your best interests in mind. So when an agent recommends a few different lenders to you, chances are, they are coming pre-vetted by their personal interactions and experiences with them! 

Trust us,…

 

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…

Spring is sort of in the air and with spring typically comes the hottest time of the year to sell your home! As REALTORS® we see all types of different situations when it comes to getting your home ready to make its debut on the market, and of course when you go to list your home everyone seems to have an opinion about who to work with, what your home is worth, and much more. No fear! We are here to debunk some common misconceptions when listing your home.

 

Myth: Get in touch with a REALTOR® a week or two before listing your home.

Fact: This is actually the exact opposite of what we recommend doing, but we do understand sometimes you have to move quickly! If you aren’t under any extreme time constraints, our advice is to get in touch with your…

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…