Along with back-to-school sales and pumpkin-spiced everything, the beginning of fall also has some things you can always count on in real estate: cooling of the housing market. That is to say, throughout September and well into October, fewer homes went on the market, which is to be expected around this time of year. For the last few months of 2019, buyers in the Minneapolis area will continue to find fewer homes for sale but will also face less competition.
Buyer and seller confidence also remained strong in September and October, buoyed by a strong economy and low mortgage rates. Nationwide, as well as regionally, the market showed no significant changes aside from the annual cooldown of the season. Although each price point, housing product and location is unique, the historically low-interest rates have released some of the pent-up demand from earlier in the year.
Depending on your needs as a homebuyer, this may be a good time to enter the market. Consider the data below or give us a call today to see if this would be a good time for us to begin working together. At Helgeson Platzke Real Estate Group, we do everything we can to stay one step ahead of the market to give our clients the best experience of buying or selling their home.
By the numbers:
* New Listings decreased 2.5% to 7,041
- Pending Sales increased2.9% to 4,957
- Inventory decreased5.6% to 12,478
- Median Sales Price increased 6.6% to $279,250
- Days on Market increased 2.4% to43 days
- Percent of Original List Price Received increased 0.1% to 98.4%
- Supply of Homes for Sale for the month decreased 7.4% to 2.5 months
If you are looking to buy, sell, downsize, or upgrade your home, timing is essential in the metro Twin Cities area.Contact us today to see how we can help you achieve your goals by working with the most dedicated and talented agents in the Minneapolis area.
At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s thriving 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.