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Your Minneapolis Real Estate Report for May 2019

It may be spring, but we are seeing some of the latest snowfalls on record.  From Idaho to Wisconsin to our very own Minnesota, winter is having a hard time letting us go this spring!  But good news: the weather may still be frightful, but the housing market is becoming more and more delightful!  Whether you are looking to buy or sell, there is no better time to act.

Much like the spring weather, the increase in new listings popping up around the country has yet to reach Minneapolis.  We actually saw a decrease of 5.3% in the week ending April 20th when compared to this time last year.  But don’t let that scare you.  For all that there are fewer listings, there has been an uptick in those looking to buy.  This typically happens in the spring as the weather takes a turn for the sunnier.  If you’re looking to sell, fewer listings means less competition on your end.  If you are looking to buy, as always, it’s a jungle out there.  But with tenacity, research, and some pre-planning, you will be able to find the home that is right for you, your family, and your lifestyle.

By the numbers: Like I said earlier, there is a decrease in new listings.  This leads  to a decrease in inventory when compared to last year—in fact, the region has seen a drop of 1.5%.  But again, the further into summer we go, the more I expect this to relax as more people look to sell their homes.  The number of pending sales continues to rise as we move into the middling days of 2019.  Compared to last month’s 1262 pending sales, we are now sitting at 1330.  This is slightly lower than compared to last year.  After being listed, homes in March 2019 stayed on the market for approximately 66 days.  This is a nine day increase compared to last year.  But no need to be alarmed: in March of 2017, the average amount of days clocked in at 73.

Looking to buy or sell your home in time to slip’n’slide your way into summer vacation this year?  Contact us at Helgeson Platzke Real Estate Group today.  We’ve got the know-how and experience to make your dreams of homeownership a reality this May.

At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’sesteemed 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.