We like to keep things real around here! We’ve been hitting the pavement all over the Twin Cities with our buyers the moment new listings become available every day. We have started to notice a reoccurring trend, which is not typical to see in the dead of winter in Minnesota.

The Twin Cities housing market currently has a very low inventory of homes available for sale. One of the major factors causing this dilemma is due to more people wanting to purchase a home to take advantage of the extremely low-interest rates available! I mean, seriously…it’s pretty insane how low current interest rates are and who knows how long these rates will stick around.

Purchased, Sold, Remodeled, & Design by: Adam & BritSaint Louis Park, MN — Purchased, Sold, Remodeled, & Design by: Adam & Brit
Saint Louis Park, MN

Out of the 30 homes that we have shown buyers in the past week, all but two of the homes were in multiple offers within 24 hours. One of the hottest housing markets continues to be Saint Louis Park for many of our clients. There seems to be a theme with homes that are priced under $500k, as they are often averaging 5-15 offers (or more!!). On average these homes are going for $25,000-$60,000 over the list price.

Homes that are listed above $500k are still having great showing traffic as well. With the limited housing inventory that we have available today in the Twin Cities, it’s a great time to sell to capitalize on receiving top dollar for your home. It’s also a great (but competitive) time to purchase a home to take advantage of the all-time low-interest rates available.

Pretty house pictures are fun and all, but we feel it’s important to give more to our clients. We want to provide all of our buyers and sellers with all the juicy insights, and what's happening in the current housing market in Minnesota. Similar to having to get creative with remodeling, the same applies to writing offers on homes right now.

We’ve got some tips and tricks up our sleeves on what wins and what doesn’t. The moral of this story is: the current Twin Cities housing market is the perfect storm of what happens when you have low-interest rates, low inventory, and a new year of new housing goals for many (thank you covid)!

Until next time…happy house hunting friends!