The following you tube video is provided by the local Minneapolis Association of Realtors and I think is a pretty good clip updating agents and consumers about the Minneapolis real estate market.
Sometimes I don’t always agree with the press and what they say the statistics are regarding the Minneapolis real estate market. Not that I don’t believe the statistics, it is that they don’t apply to all areas within the Twin Cities. In the last couple weeks I have been working with a first time buyer in the St. Louis Park area. From that experience I can tell you that the real estate market is picking up in that city. There are buyers out there, and of course they all want the same houses on the market. Clean and priced right homes are in high demand in the Minneapolis real estate market.
We wrote one offer at 98% of list price. It was the first day on the market, and they had a few more showings that night. That said, after all the other showings had gone through without anyone else making an offer, the other agent called me back and countered at full price! My client decided not to go to full price. Two days later that house sold, at what I assume to be full price. This was a very clean and well priced house but I still take this as a bit of a signal our market is beginning to turn. This was not a foreclosure or bank owned property either by the way.
My clients wound up finding another beauty of a house this week, and successfully came to terms on what they and I feel is an even better home for them and they are elated!
Please leave me feedback if you like this video or not, or any other real estate thoughts on the Minneapolis real estate market.
