Minnesota Real Estate Market Update

It’s always a good idea to keep an eye on market conditions. Wondering how the real estate market in Minnesota is doing right now? Here’s the most recent market update from Kathy and Sarah.

Market Update:

This month, there are 12,478 active listings in Minnesota, a 6% drop from last year at this time. That decrease in availability may be partially responsible for a 7% increase in the median sale price of a home—up to $279,250. 

We’ve seen that 27% of properties had a price adjustment in the last 30 days—not too surprising as we move into the cooler months which can be more difficult for sales. 

Currently, the average number of days on the market for Minnesota homes is 43, and the average number of showings is 17. For every sale, there are 3 properties that remain on the market. Want your home to defy the odds? Trust Kathy and Sarah to help you sell your home on the timeline and for the value that you want.

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