“As 2021 ends, we see the return of a normal seasonal cycle. Gaps compared with the previous year reflect the remarkably high volume of sales in December 2020. Seen in the larger historical context, 2021 ended on a high and healthy note,” said Chris Galler, CEO of Minnesota Realtors. “The increasing median and average price for homes reflects the fact that buyers are still actively competing for properties. Limited inventory will continue for the foreseeable future due to escalating construction costs, labor and materials shortages, zoning requirements and regulatory burdens. As buyer demand increases, home prices will rise. Even if interest rates go up in the spring, these initial increases are unlikely to diminish Minnesotans’ appetite for buying homes in 2022.”
CLICK HERE FOR COMPLETE REPORT The number of homes for sale is down 22.2% from just a year ago. It's no surprise, then, that the number closed sales is down (but only by 4.1%). That means more buyers per listing, so houses are on the market for a shorter time and prices are going up.
This pressure will continue to raise home values even though mortgage interest rates seem are sure to go up in 2022. If you're looking to buy, it's time to get started before the number of buyers and interest rates increase. Let's connect and see if we can get the ball rolling toward finding and buying your next home or cabin. READ MORE ABOUT THE MINNESOTA HOUSING MARKET Happy December! November was another exciting month in real estate for me. I'm so thankful for the great experiences I've had serving my clients. It's been a thrill to help you all! CLICK HERE FOR RECENT PICS & CLIENT COMMENTS As always, I appreciate your referrals to friends and family! If you're thinking of buying or selling in 2022, we should connect. Before you know it, the market will start heating up again. CHECK OUT THESE NEW POSTS ON MY BLOG...
Winter Holiday Safety Tips Twelve tips for keeping your family and home safe through the holidays. Preparing to Buy in 2022 If you're thinking of buying a home in 2022, here's how to get started. Ever Thought about Living in a Small Town? Some of the reasons people move outside the Twin Cities with a spotlight on Northfield. Going the Extra Mile A good Realtor does a lot more than paper work. Follow me on Facebook: @DB.AndersonRealtyMN There are lots of reasons Twin Cities residents have for considering a move to somewhere outside the city. Some of these reasons include: pandemic concerns, recent social unrest, high cost of living, transitions to remote work, and a desire to find a less hectic and crowded lifestyle. If any of these motivations resonate with you, it might be a good time to check out some options. One of the small town communities I have come to love in recent years is Northfield, MN. If you'd like to explore making a move to Northfield, I can help you. You'll find that the current supply of homes for sale in quite low, so you'll need to prepare yourself to watch and wait for the right house to come to up for sale. That's something I can help you with because I keep a close watch on the Northfield market! Whether it's Northfield or another town you've been considering, I'd love to help you find the right place. Let's set up a time to talk about it. CURRENT LISTINGS IN NORTHFIELD CLICK HERE for the complete 2021 Winter Walk Schedule (VisitNorthfield.com). Northfield's Winter Walk December 9 , 2021 In the heart of the holiday season, an event takes place that draws crowds from near and far. Steaming cups of hot cocoa, the sounds of hooves clippity-clapping along the streets, and candles flickering in the breeze, creates a magically and can’t miss one-night festival. Visitors can wander through our unique shops and enjoy beautifully decorated storefront window displays. There will be horse-drawn carriages ready to take you for a short ride, carolers strolling through downtown along with thousands of twinkling lights to guide your path! Old and young alike enjoy viewing the model train display located at the Northfield Public Library – or watching the performance of the NAGCracker (Nutcracker) at the Northfield Arts Guild. Santa Claus and his elves will be making an appearance as well as Frosty the Snowman and Rudolf the Red-nosed Reindeer! We hope you will join us, as we usher in the holiday season with this fun and festive event. Voted Best Holiday Event since 2013 by SoMinn Scene Magazine! Preparing to buy a house probably isn't at the top of your holiday things-to-do list. However, if you're thinking of buying a home in 2022, it's not too early to start preparing.
The supply of houses in Minnesota is low and will continue to lag behind demand in the coming year. The number of buyers, however, will no doubt be increasing once the new year gets rolling. With that in mind, it's a good idea to get a couple steps ahead of other buyers before things heat up. The more buyers there are, the more competition there will be when it's time to make an offer. Let me suggest a few things you can do right now to be prepared to purchase a home in 2022. 1. Let's set up a time to talk about your needs, your timing, and your preparation. There's no pressure for you to do anything before it makes good sense for you to do it. The goal is to help you think through your strategy, make sound decisions, and figure out if and when you're ready to move forward. I will always keep your needs and best interests in first place. 2. Let me help you connect with a loan officer. You will want an experienced professional proven to be good at helping clients succeed. Your loan officer will help you determine your credit score, figure out your debt to income situation, establish your budget, explain your financing options, and get you pre-approved for a mortgage. 3. You should also take care to manage your credit and finances in ways that set the stage for buying a home. Your loan officer will have good advice for maintaining or improving your credit rating and your assets until the purchase process is completed. It's important to be ready with the funds you will need for earnest money, down payment, and closing expenses. 4. Let the search begin! Once we've been able to get a handle on your budget and your timing, we can start looking at houses. We'll begin by getting a good sense of what is available: price range, types of homes, neighborhoods, and more. Then we will refine and narrow our search until we find the home that suits you best. Please visit my website to learn more about... WHO I AM WHAT MY CLIENTS ARE SAYING WHY HAVING A REALTOR® IS SMART While the holidays provide us with lots of ways to enjoy our homes, they can also present some risks if we don't exercise care. Fun can turn into disaster if we aren't thoughtful about candles, decorations, ladders, lights, extension cords, Christmas trees, fireplaces, and space heaters. Here are twelve tips for keeping your family and home safe, and your holidays happy. As a Realtor®, one of my core values is to generously support initiatives to help those who are in need of affordable housing opportunities. One of the organizations I support is Urban Homeworks. I will be sending them a special gift this December and I'm pleased to learn that gift will be matched. If you would like to learn more about Urban Homeworks or join me in making a contribution, CLICK HERE. A generous donor has pledged to match new donations and increased gifts from past donors up to $50,000 from now through December 31st. That means you can double your impact by donating to innovative community development today! With holidays approaching, we celebrate the generosity of so many of you who continually choose to share your abundance with the broader community. Thank you for perpetuating the hope! CLICK HERE TO LEARN MORE
Happy November!
Once again, I'd like to start with a big thank-you for all my wonderful clients. It's a pleasure to serve you. CLICK HERE FOR RECENT PICS & TESTIMONIALS It's never too early to start working out your housing goals for the coming year. I'd be very glad to talk with you and help you sort out your timeframe and strategy. Let's set up a time to talk. As always, your referrals to friends and family are always appreciated. YOU MIGHT BE INTERESTED IN THESE NEW LINKS ON MY BLOG... Realtors Help in a Challenging Market The look at the current housing market in Minnesota. Going the Extra Mile A good Realtor does a lot more than paper work. Get Your Home Ready for Winter It's not too late to do some important things to make your house ready for winter. Check out these 12 Practical Tips. You can visit my HOME TIPS BLOG any time to see the latest posts. Follow me on Facebook: @DB.AndersonRealtyMN Take care, my friends! Have a great Thanksgiving! |
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DAVID BURKUMWhen buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results. Archives
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