Congratulations to Derrel and Sharon on the sale of your home! It was a big decision and a big move, but YOU DID IT. And you did it so well! Such a pleasure to serve you both!
Congratulations, Frank and Sue, on the purchase of your new townhome! I love the thought of you enjoying one-floor living and being close to grandkids. You found it and made the winning offer. Way to go!
As closed sales rise and inventory shrinks, new listings can’t keep paceCompetition for scarce housing stock defined Minnesota’s real estate market in June, pushing the median sales price to $325,000, up 18.9% above June 2020, according to Minnesota Realtors® (MNR), the membership organization supporting all 22,000 Realtors in the state. Closed sales rose 12.9% over last year, and a surge of new listings brought 11,908 properties to the market, a 6.5% increase. In a key indicator of the frenzied sales activity, days on the market sank 45.7% to just 25 days—a historic low. Overall, the state’s number of homes for sale were down 40.8% compared to last June, with only 1.2 months of supply available. On average, sellers were getting 103.2% of the asking price, pushing the average sales price to $367,753, +9.3% above 2020. This is an unprecedented milestone.
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When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.