Seller Confidence on the Rise in the Minneapolis Area
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.