Happy July, Minneapolis! Is there any better month than July? With fireworks, cook-outs, and camping trips, we’re in the thick of summer now! But if you’re not careful, it’s easy to let the time slip through your fingers in the heat of the day. Before you know it, it’ll be back to school season and you’ll be hitting up the stores armed with school supply lists! So while you’re taking some time to laze by the pool this month, take a second to check-in with your goals of buying or selling your home.
This time last year, we found ourselves strapped into a roller coaster market. The constant ups, downs, and sudden turns were enough to give you whiplash! This year, though we don’t expect to see the highs of last year, we’re on a much more calm ride. The name of the game is stability and sustainability this July. We’re finally starting to see some balance between buyers and sellers as they vie for control over the market. But no matter your goals, it’s good not to get too comfortable. Home prices are continuing to rise and supply is still limited in the region. But buyers should be able to elbow out some breathing space as they look for the home that’s right for them.
By the numbers for this month:
New listings increased by 2.4 percent this month when compared to last year. Pending sales held steady, rising only .1 percent this month. Sales prices continue to rise, up 5.2 percent to a median price of $285,000. Better mortgage rates drove the market in recent years, but 2019 is proving to be something of an outlier. Prices and sales are not skyrocketing as expected, and so a shift may be in the near future.
Don’t let your dreams of buying or selling your home disappear down the hazy days of July! Contact HelgsonPlatzke today! Our agents have the know-how to help you beat the heat of this dynamic and ever-changing market.
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 year, 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.