Welcome to September, Minneapolis! The end of summer brings news that may brighten even the cloudiest real estate forecast. Despite worries of an economic slowdown due to trade tensions, decreased manufacturing, and weak business investment, consumer confidence remains high. This is reflected in the steady increase in sales price despite the lack of affordable supply, as well as attractive mortgage rates that are expected to last for some time.
However, affordable inventory remains a sticking point. Cautious buyers may need to be patient to find the perfect home for their family at a price and rate they can easily afford. Regardless of your goals as a home buyer or seller, it will pay off to stay up to date on how the economy is affecting the real estate market. This is where the dedicated real estate brokers and agents at Helgeson Platzke Real Estate Group shine. We do everything we can to stay one step ahead to give our clients the best experience of buying or selling their home.
By the numbers:
• New Listings decreased 2.1% to 1,794
• Pending Sales increased 3.8% to 1,342
• Inventory decreased 3.0% to 12,339
• Median Sales Price increased 6.0% to $283,950
• Days on Market remained flat at 38
• Percent of Original List Price Received decreased 0.2% to 99.6%
• Supply of Homes for Sale for the month remained flat at 2.5
Economic uncertainty is never comforting, but it doesn’t have to hinder your dreams of buying or selling your home when you have our agents working on your behalf. Contact us today to see how we can help you achieve your goals.
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 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.