buying a home blog posts

Seller Activity Enjoys a Spring Boost: Your May 2017 Real Estate Market Recap

Brace Helgeson

Thursday, May 4th, 2017May. 4th, 2017

According to a recent report from the Minneapolis Area Association of Realtors, sellers enjoyed a 1.3% bump this spring compared to the same time last year. What’s more, the number of closed sales rose a whopping 8.3%. Both are strong indicators of a robust market, where buyers are eager to lockdown their ideal property while mortgage interest rates are still enjoying historic lows.

Dear Sellers: Your Time Has Come! (Buyers: There’s Good News For You, Too!)

Ryan Platzke

Monday, April 17th, 2017Apr. 17th, 2017

According to recent reports from the Minneapolis Area Association of Realtors, now is the perfect window in the local housing market for sellers stewing over the potential of selling or not to finally take that leap! With inventory not entirely keeping pace with a high demand for homes, sellers are enjoying an upper-hand in the current market. Homes in the Minneapolis area are fetching top-dollar, with many sales instigating bidding wars between potential buyers. Not only does this mean that a seller’s home will likely garner a great rate, it also means that financial flexibility can help place you into your next dream home.

Strong Demand and Solid Pricing Sums up the Winter 2016 Housing Market

Ryan Platzke

Monday, December 19th, 2016Dec. 19th, 2016

According to the Minneapolis Area Association of Realtors, there is considerably strong demand going forward as we make our way through the wintry season. To boot, home prices are fairing strongly, and inventory—though still trying to catch up to unprecedented levels of demand—is slowly but surely keeping pace.

Research from the Minneapolis Area Association of Realtors shows that demand is up by 1.6% compared to this time last year. While that might not seem like a marked percentage increase, it actually amounts to a thousands of additional properties purchased by homebuyers in the Minneapolis area. What’s more, closed sales increased too, just shy of a percentage point at .8%, amounting to a 4,791 additional closed home sales.

For home sellers eyeing the market—and potentially their next property—rest assured that you’re likely to get a solid price for your home, with reports indicating that the median sales price for autumn this year rose by 6.5% annually. Likewise, homes on the market are selling quickly, and attractive listings are likely to garner multiple bids. According to the Minneapolis Area Association of Realtors blog, "The average percent of original list price received at sale was 96.9 percent, 0.8 higher than last year. But the median percent of current list price received is 99.6 percent, the highest level since 2005.”

Judy Shields, the President of the Minneapolis Area Association of Realtors, commented on the surge, saying, "Demand is still soaring.” This is encouraging news due to the season, where activity tends to taper off this time of year. Instead, winter 2016 is looking to be a scorcher when it comes to Minneapolis area housing market demand. In addition, the Minneapolis area labor market is going strong, and growth is on the move in all sectors, which means that prosperity in the workforce will likely translate to continued prosperity in the Twin Cities area housing market. In fact, the unemployment rate in the Minneapolis area is significantly lower than the 4.9% national average, coming in locally at 3.3%.

Though mortgage interest rates have shifted a bit, they are still far lower than the year-by-year average, which means that the time is ripe for homebuyers looking to lock in unprecedentedly attractive 30-year fixed-rate mortgage interest rates right now. This winter is surely shaping up to be a positive one in the Minneapolis area, whether you’re interested in buying or selling your home.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.

Your Year-End Real Estate Roundup

Brace Helgeson

Monday, December 12th, 2016Dec. 12th, 2016

This year has been an eventful one in the world of real estate. From news of increased inventory with new home construction on the move, to unprecedented demands for existing homes, 2016 has shaped up to be a largely positive one for the U.S. housing market.

Let's begin with increased demand. As recently as October, the National Association of Realtors at Realtor.org reported that existing-home sales continued their upward trend this autumn, even toppling June's high sales peak. This is particularly remarkable news considering that spring and summer are largely held as the top home-buying and selling months of the year. However, in October, all major regions around the country reported significant increases in annual sales. Total existing-home sales—or, the sales of homes built and on the market—grew 2% in October. At a seasonally adjusted 5.9%, October's existing-home sales outpaced summer rates and were the highest since February 2007.

Chief Economist at the National Association of Realtors, Lawrence Yun, commented on the unexpected gains, saying, "October's strong sales gain was widespread throughout the country and can be attributed to the release of the unrealized pent-up demand that held back many would-be buyers over the summer because of tight supply." What's more, Yun went on to say that wages are pushing upward and construction is also increasing, which means that a market in high demand will soon enjoy the relief of added inventory. Plus, workers are primed to enjoy a bump in pay, making the transition to homeownership a more financially feasible one.

In other news, high-tech trends are emerging in the housing market, as realtors, builders, and owners recognize the need and mounting desire for smart home accessories, according to another report by the National Association of Realtors. Realtors are seeking certifications in smart home technologies—such as Nest—to better serve homebuyers seeking up-to-date accoutrements in their future dream home. According to the report, over half of potential homebuyers are interested in these emerging technologies, some that address household thermostat systems, others that provide cutting edge security features linked to smartphones. As new-build properties hit the market, technology of this nature is sure to be on the minds of builders and planners equipping new construction properties.

Finally, 2016 was marked by exceptionally low mortgage interest rates of historic proportions. With the presidential election in the rearview mirror, some of those numbers are on the move, which means that now more than ever is the time to lock in a low mortgage interest rate. Regardless, 2016 was a strong year for mortgage interest rates, and certainly was an important component in the market's often unprecedented surges.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie's esteemed small business community. Since 1995, we've offered the very best in Twin Cities real estate, earning our community's trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you're considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season's extraordinary market.

Seller Confidence on the Rise in the Minneapolis Area

Ryan Platzke

Monday, October 31st, 2016Oct. 31st, 2016

According to a recent article from the Minneapolis Area Association of Realtors, those selling homes in the Minneapolis area are enjoying a boost of confidence this fall, as seller activity is up 5.6% since this time last year. 6,727 new homes have entered the Twin Cities real estate market during the month, and there’s even more good news: closed sales underwent a 5.7% bump, too, the highest level seen since 2005.

In addition to the encouraging boost for homebuyers and sellers in the Eden Prairie and Minneapolis areas, average sale prices increased 3.6% from this time last year, which is an exceptional development, considering peak home buying season concluded during the summer months. To boot, homes are more in-demand than ever, which means that they’re flying off the market at an average rate of 56 days before a closed sale.

So, how do all these facts and figures translate to those interested in buying and selling a home in the Minneapolis and Eden Prairie areas this fall or winter? For starters, sellers can part with their property with the utmost confidence that it will sell in short order, for a good price, while perfectly positioning them to embark on their next property. Eden Prairie and the Minneapolis areas are in high real estate demand, which means that selling a home at this juncture is not only a lucrative proposal, but it also means that buying your next property is a prudent investment, too. Those interested in buying a house in Eden Prairie can take particular heart, as Money Magazine recently listed the community as one of the most desirable locales in the country to own a home.

Minneapolis Area Association of Realtors president, Judy Shields, reiterated confidence in the Twin Cities’ real estate market, saying, "This market doesn’t seem to be slowing down one bit.” Likewise, MAAR president-elect, Cotty Lowry echoed that sentiment, saying, "This market is on solid footing.” Looking ahead through winter, homebuyers and sellers can rest assured that the strength of the local economy will keep the housing market steady. According to research, the Minneapolis-St. Paul region has one of the lowest unemployment rates of all major metropolitan areas, which means that growth is steady and translating to healthy housing market options and action.

With mortgage rates still hovering at exceptional lows, there’s no time like the present to make the transition into homeownership with the help of a trusted and experienced guide, like those found at Helgeson Platzke Real Estate Group. Whatever your tastes, budgets, or homeownership needs may be, at Helgeson Platzke we can make the house of your dreams a reality.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your home ownership goals are delivered. So, if you’re considering buying or selling your Eden Prairie area home this summer, now is the time to enlist the help of a real estate professional who can help you make the most of this season’s extraordinary market.