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Your Twin Cities Real Estate Report For October 2020

October 6, 2020

From the crimson and gold falling leaves to the pumpkin spice latte, fall is everywhere. It’s officially sweater weather – and we’re cozying up to our TVs, eating chili and watching football.

Even though fall and winter are typically slower for real estate, this year’s low inventory means that houses don’t stay on the market long. Most homes are selling for list price or higher as buyers compete for the few homes out there. Here are the latest statistics here in the Twin Cities.

+0.6% closed sales.

Although the market slows as winter approaches, homes sales are still up.

+9.8% median sales price.

Sales prices are up too. The incredibly low inventory means that more buyers are competing for fewer homes, driving home prices up. It’s still a seller’s market.

-32.4% change in inventory.

Inventory remains incredibly low, which means that sellers continue to get close to the original list price or higher.

At Helgeson Platzke Real Estate Group, we’re 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 the knowledge and experience necessary to ensure that your homeownership goals are delivered. If you’re considering buying or selling your Eden Prairie area home this year, now is the time to enlist the help of a real estate professional who can help you make the most of the market no matter the situation.