January 27/28, 2024 Market Update
Maybe it’s this early spring-like weather, but buyers seem to be coming out earlier this year as showing volume and open house interest continues to grow as the year goes on. Interest rates seem to have settled around 6.5% as well and that seems to be giving confidence to buyers that rates might stabilize here or, hopefully, continue slowly falling. For sale inventory continues to lag demand and demand is growing now that we’re into the new year. What that means for you:
- Buyers – if you find a home you like and it’s been on the market for a while, offer the price you want to offer. Right now, before the market really heats back up, you may be the only offer the seller sees and able to better negotiate price or terms. As more buyers turn up, as they do in the spring, your negotiation prospects may begin to dim.
- Sellers – just because inventory is in short supply, doesn’t mean you can just put your home on the market as-is and hope to get paid top dollar. It’s the “wow homes” that sell quickly right now – those homes that look so great that your first response when you walk in the front door is, “Oh, wow!” If you can’t get an “Oh, wow!” out of potential buyers, then you have work to do! Let’s get that done now, so that when March rolls around (peak selling month!), you’re ready with a beauty of a listing.
Speaking of beauty, I’m hosting open houses at three different properties this weekend! I hope you can stop by and take a look:
This Weekend’s Open Houses
Saturday, January 27, 2024 Noon – 2pm
14014 56th Avenue N, Plymouth, MN
$599,000 2 bedrooms, 2 bathrooms, 2 car attached garage, 1953 finished square feet
More info here: https://bit.ly/3Um3nEt
Built in 2017, this like new townhome looks gorgeous and offers single level living! There is also a full unfinished basement offering opportunity to finish space and add value or just store your lifetime of stuff! With the peacefulness of a back-yard like view from the deck and the updated features of like-new living, you’ll wonder why you waited so long to stop by!
Saturday, January 27, 3pm – 5pm
1613 W Franklin Ave, Minneapolis, MN
$1,100,000 4 bedroom, 5 bathrooms, 2 car detached garage, 5222 square feet
More info here: https://bit.ly/3O9EGag
This home has been extensively updated and features outstanding high end finishes, great flow for entertaining, luxurious private spaces and terrific outdoor space. Features include gorgeous original details, expansive owner's retreat including a huge bath with jetted tub and large walk-in closet. The lower level was built for entertaining including a custom wet bar and gym. Located 2 blocks to Lake of the Isles with access to miles of walking/biking trails, 7 blocks to Sebastian Joes, minutes to daily conveniences and Downtown. Fantastic single family home alternative.
Sunday, January 28th, Noon – 2pm
6212 Chowen Ave S, Edina, MN
$749,900 4 bedrooms, 4 bathrooms, 2 car attached garage, 2656 square feet
More info here: https://bit.ly/47RA8fL
No detail has been overlooked in this this meticulously remodeled pool home. The kitchen is stunning with granite countertops, stainless appliances & hardwood floors throughout. Open concept kitchen flows to the living room with fireplace & plenty of windows. Step from the living room onto the 3-season porch overlooking the deck, in-ground pool & fully fenced yard. Main level also has a powder room. Upstairs finds 3 bedrooms including the primary suite with a spacious walk-in closet, & fully remodeled en-suite bathroom. Upper-level washer & dryer.
Previous Opens, Still for Sale
If you missed any of my previous open houses, some of those are still on the market. If you’d like to see one, just call me, email or text!
15011 Juniper Ridge Drive NW, Ramsey, MN
$657,777 5 bedrooms, 4 bathrooms, 3 car attached garage, 4315 square feet
More info here: https://bit.ly/3vIgwxn
9790 Troy Lane N, Maple Grove, MN
$769,000 5 bedrooms, 4 bathrooms, 3 car attached garage, 4950 square feet
More info here: https://bit.ly/3vB3AJy
5625 Hansen Road, Edina, MN
$449,900 4 bedrooms, 3 bathrooms, 1 car attached garage, 1998 square feet
More info: https://bit.ly/3TRk3mL
5917 Morgan Ave S, Minneapolis, MN
$379,900 3 bedrooms, 2 bathrooms, 2 car detached garage, 1563 square feet
More info: https://bit.ly/42gOHsb
5616 Colfax Avenue S, Minneapolis, MN
$799,000 4 bedrooms, 3 bathrooms, 2 car detached garage, 3015 square feet
More info: https://bit.ly/47wGuln
1921 Emerson Avenue S, Minneapolis, MN
$474,900 3 bedrooms, 3 bathrooms, 1 car attached garage, 1694 square feet
More info: https://bit.ly/45zvMJ7
Have a great weekend. I’d love to see you at one of my opens.
Stay warm out there!
Mitch
Posted by Mitch Culbreath, Realtor on
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