Southwest Twin Cities Market Report March 18 2021

Dated: March 18 2021

Views: 126

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Early signs of Spring at the Lowry Nature Center in Victoria 

(photo credit) 

2021 Housing Forecast 

This Spring 2021 market is the strongest seller-driven market I have ever seen in my 25 year career. 

Homes in fair condition (and reasonably priced), are typically receiving: 

-Multiple Offers (in some cases 15 - 20 offers) 

(that is not a typo...there are just so few homes on the market for buyers to choose from, especially in the mid and lower price ranges.) 

-"Appraisal Gap" Coverage in Cash 

-Most homes selling 6-12% over list price 

-Increased Earnest Money 

-Seller Dictating Extended Closing Dates 

-Waived or Reduced Buyer Inspections 

This has become the "new normal" for the current market cycle...as the forecast below suggests, it appears that this year will likely set another record with historically low interest rates, number of homes sold, and record high prices. 

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If you would like a real estate opinion about what updates/investments are "worth it" for the money, I would be happy to do an informal 15-20 minute "Cost Versus Benefit Analysis" meeting at your home (no cost or obligation) to discuss a few different scenarios and give you an update of what your home is currently worth. 


Looking for the highest Yelp! ranked Realtor in the Southwest Metro? 


Homes For Sale 

Eden Prairie Homes 

Chanhassen Homes 

Minnetonka Homes 

Chaska & Victoria Homes 

Shakopee & Savage Homes 

West Bloomington Homes 

SW Metro Townhomes & Condos (EP, Chan, Tonka, etc) 

All Twin Cities Homes & Condos

 

Recently Sold Homes 

Eden Prairie Just Sold 

Chanhassen Just Sold 

Minnetonka Just Sold 

All Southwest Metro Sales


There are currently 188 homes of all kinds for sale in the area $142K - $925K which you can see HERE 


0.8 months ...is the current inventory of homes in the Twin Cities in February 2021. 


How's the Market? 

The Twin Cities has been in a seller's market since Nov 2014 when it hit 3.9 months of supply (The National Association of Realtors states that a "balanced market" is 4-6 months of supply). Record low interest rates are making homes more affordable for buyers, even with home prices selling at record levels.  


Miss last week's update? 

View previous issues of the weekly email HERE 

See our Virtual Process & Health Safety for COVID-19 

Looking for a Top RE/MAX Agent in the Twin Cities? 

Call/text me anytime, my cell is 612-490-2121 Stieg Strand, RealtorĀ® RE/MAX Results - Eden Prairie 25 years Selling Real Estate! 

My Website 

Search all Homes for Sale 

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Thank you for your time today 

At your service, 

Stieg

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