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Fall is in full swing in the Midwest and that means our cold, snowy months are fast approaching! This also means that the slower months of the real estate market are creeping up on us. However, there is still time to list your home this fall! In fact, we like to call this time of year the “last call for fall” window, where there is still time to showcase your home’s full potential without having to deal with the extreme weather and slower market that the winter brings. 

Plus, listing your home in the fall has some other great benefits you just don’t get all year round.

First and foremost, the weather is optimal and it makes for easier lawn maintenance and curb appeal. Aside from raking leaves and cleaning gutters, there isn’t a whole lot of…

Oh the times, they are a changin'

We won't lie, it has been a bit challenging to predict the real estate swings throughout this year. An interesting mix of increasing values across the board, combined with the Minnesota seasonal trends have left us always wondering how the next month is going to turn out. September was no different, and perhaps a bit telling of how the rest of the year will turn out. Shall we dig in?

Most notably, let's start with sale prices. Now, we've known that the increases in average and median price points were unsustainable, but what we didn't know is how fast they would take a dip. Last month, the Average Sale Price went down by its largest margin for the whole year, dropping by over $22k, and landing at $391k - wowza. The Median…

Goodbye Summer

September always seems to be filled with mixed emotions. On one hand, it's still warm out and there's plenty of fun outdoor things to do that keep us happy - such as stuffing our faces at the Great Minnesota Get-Together. On the other hand, we all know cooler days are on the horizon, so we button up our flannel, head to the apple orchard, and sprinkle extra cinnamon on that pumpkin spiced latte. 

But what about the local real estate market? How does that react to the change in season? Does it care if it's cold or warm out? Or whether it needs to think about finally getting snow tires this year to get up that absurdly steep driveway? Or is it remotely possible that real estate shifts are more based on large societal trends such as the…

We know the real estate pattern well, home sales heat up every spring and summer, and then, as the leaves begin to change, the market begins to cool. Conventional wisdom says that the best time to buy and sell a home is in the spring. However, it's worth considering your options of buying or selling in the Fall. Here's 5 reasons why...

Avoid peak real estate season
With fall usually comes the start of real estate’s slower season. Typically, there are less people looking to buy a home in fall, and less people putting their homes on the market. This gives you a leg up in either scenario. If you’re a Seller, your home has fewer homes competing against it. As a Buyer you’ll have fewer people competing against you! As a side note: we have seen an…

Written by VIBE Owner/Broker Steven Anderson

A New Direction?

We've been eagerly awaiting the results that July would bring us for our Monthly Market Recap. With the constant upslope of the market since spring, we need to find out if the upward trends will continue, or if we will start to see some data that shows them leveling out. Well they're in, and they're interesting, so let's take a look.

We like to look at the Total Units Sold as our initial indicator of the action. This has been climbing consistently since January, but for the first time since then has begun to trend downward. It was approaching 7,000 last month, and has now fallen to below 6,000. This is a pretty large dip, but is actually still above the number we saw for most of spring.

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Buying a home is no easy feat, especially in an extremely competitive market. With a competitive market comes an amplified homebuying process. Emotions run higher, it can be more stressful and the process can take longer. So we thought it would be helpful to touch on some aspects of the homebuying process that you may not hear a lot about, the less “tangible” aspects that can make all the difference. 

1. Starting earlier has its advantages and can really give you an edge. If you feel like you’re going to buy within the next year, start reaching out to a few Realtors in your area. Interview multiple people, get to know their processes, and make sure you feel comfortable with them. It’s never too early to get your ducks in a row!

2. …

Written by VIBE Owner/Broker Steve Anderson

It's that time again, and yes, we're going to be discussing another month of record breaking numbers. But could the tides be shifting a bit at the same time? Let's take a look.

We left off last month wondering how the warm weather brought on by the late spring/early summer, combined with COVID restrictions being lifted, was going to affect the real Twin Cities real estate market. Would Minnesotans head north and let their home buying desires take a back seat to some fun in the sun? We may not know if that truly happened until we see next month's numbers because it takes a while for these sales to actually close, but specifically looking at June, it was as aggressive as ever.

Let's start with Total Units Sold.…

Hello again, and welcome to another market recap brought to you by VIBE Realty. If this is your first time reading our recap, then stay tuned as we dive into the ever so changing numbers of the Twin Cities real estate market. If you are returning from last month or have been following along with us in the past, then welcome back!

You see, spring is typically a very busy season in our market. The snow has melted, the school season is wrapping up, and for those looking to buy or sell real estate, there's a tendency to want to get it done before summer for multiple reasons. With the last year having as many ups and downs as it did, we've been watching closely to try and determine whether or not that would be the case this year, as things return to normal…

Those of us Minnesota dwellers have witnessed a myriad of changes in the housing market throughout the Twin Cities over time. And it’s true — Minneapolis and Saint Paul continue to evolve. Even with changes that COVID-19 has brought upon our economy, along with the ever changing political backdrop of our communities, the demand for housing in the Twin Cities remains at an all time high. Home sales and prices skyrocketed as buyers outpaced sellers in some parts of the metro.

And so this leads us to the buzz term of the year: “It’s a Seller’s Market.” But what does that really mean for sellers, buyers, and real estate as a whole? While the market remains hot across most larger cities in the country, it’s hard not to acknowledge the growth and demand here…

Written by VIBE Owner/Broker Steve Anderson

This month's theme: Broken Records

Last month we left off talking about the importance of the spring market this year, and how it will set the tone for the selling season. Well here we are, smack in the middle of the spring 2021 market, and what are the numbers saying? Let's take a look!

We're going to start with some of the less drastic changes that we saw over April. Months Supply of Inventory, which is basically real estate's slug percentage, stayed below one month for the fifth month in a row, but did tick up to .9 this time. New Listings to hit the market also went up by a decent margin to just over 7,100, but that was sort of to be expected given the time of year. Still not enough to put a dent…