Hello all!  I hope you’ve recovered from Super Bowl weekend and that everyone was a KC fan!

Market Update

Here’s the high level breakdown comparing January 2024 to January 2023:

Source:  MN Association of Realtors

There’s all sorts of real estate news out there – good and bad – but so far, the data says that the market is still strong – especially for sellers.  Why sellers?  I think this table is all ABOUT seller strength.  First, listings are up 7%.  That brings more buyers in – buyers who haven’t found the home they’re looking for.  At the same time, closed sales are up 7.9%.  That means that existing inventory is still being depleted at a faster rate than new inventory is being added.  Finally, sales price is up 3% from same time last…

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Five, count them, FIVE open houses this weekend, starting with a Friday night special tonight.  But first…

Market Update – February 9, 2024

I’m beginning to see more homes coming to market each week and the quality of those listings is improving considerably.  There’s more nice stuff out there!  While buyer demand has improved over the past six weeks, expect to see it continue to ramp up as we hit the hot-market-trifecta:  Jan-March is where most activity happens, the weather has been amazing and Super Bowl weekend is here (which is when the market usually ramps up in the spring). 

Buyers – get your financing ready, go out and see plenty of homes so that you have a good idea about what you get for the price, and then when you find the one you…

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Every Tuesday, I schedule time in 4 or 5 different for-sale listings so that I can see those homes in person and get a better sense of what they have to offer for the price.  Here's my review of homes I visited this week:


4945 Logan Avenue S, Minneapolis, MN
$519,000 5 bedrooms, 2 bathrooms, 2 car detached garage, 2148 square feet.
If you're looking for a home that needs some elbow grease but has the potential to be a real winner, this might be worth a look.  Great flow on the main floor with room to expand your living space into the back yard.  Nice upstairs with 3 beds and a bath.  Lots of potential in the basement to turn it into great living space.  It's finished now but could use your vision.  Located in the high demand Lynnhurst neighborhood,…

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Happy February!  Here’s another version of my market update and open house schedule!

 Market Update

Usually the spring housing market doesn’t start until either Super Bowl weekend or the snow starts to melt a bit.  Maybe it’s because the weather is already surprising to the upside and Super Bowl weekend just around the corner, but the housing market is already active and, yes, it’s multiple offer time again in the Twin Cities metro area.  Inventory remains tight and interest rates seem to be settling in at 6.5% or so, with hopes that they begin to inch downward throughout this year. 

Buyers:  If you plan to buy something move-in-ready (the “wow house”), plan to compete.  I know it doesn’t seem fair and why does it have to be this way, but plan…

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What's a broker open?  Every Tuesday, around midday, realtors with listings host open houses where realtors and buyers can stop by and take a look at the home.  The purpose of a broker open is for the listing agent to get feedback from other agents.  Is the price right?  How's the staging or the presentation?  Any better marketing ideas?  And for visiting agents to see homes first hand and get a better feel for price/value in different neighborhoods.  I see anywhere from 3 - 5 homes on Broker Open Tuesdays and thought you might appreciate my insight on these listings. 

Here's Broker Open Breakdown #1:

5020 Harbor Lane N, Plymouth, MN
$650,000, 4 beds, 3 baths, 3 car attached garage, 2654 square feet, built in 1998
Link to listing…

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