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 year, while the days-on-market metric hasn’t changed. So, if you’re selling, there are plenty of buyers out there waiting for a home like yours to hit the market.
If you’re a buyer, then be prepared to sharpen your pencil and take on more risk than you might want to because it’s likely that you’ll be competing with other buyers. And, even if you’re the only offer, you’ll be facing a seller that has high aspirations for getting the listing price they’ve advertised.
Have questions or want to know more? Send me an email, text or call and let’s talk about it!\
Open House Schedule
Here’s my open house schedule for this weekend. I’m repeating at a few homes, but still have a new one to welcome you to!
Saturday, February 17, Noon – 2pm
9258 Shetland Road, Eden Prairie, MN
$779,900 5 bedrooms, 4 bathrooms, 3 car attached garage, 3810 square feet
More info here: https://bit.ly/3HVxzyy
Gorgeous gourmet kitchen, enormous primary suite, new flooring, recently updated mechanicals, lovely deck and private back yard.
Saturday, February 17, 3pm – 5pm
18302 Jurel Way, Lakeville, MN
$680,000 4 bedrooms, 3 bathrooms, 2 car attached garage, 2698 square foot single family townhome
More info here: https://bit.ly/3I7WC1m
Bright and open layout including builder upgrade of double sided fireplace! Kitchen boasts plenty of cabinet space, large panty with built-in shelves and center island that is perfect for entertaining! Main floor owner's suite includes large closet, double vanity and spacious laundry area. Additional bedroom on the main floor that works great as an office! Lower level is a walkout and lets in plenty of natural light!
Sunday, February 18, Noon – 2pm
6113 Saxony Road, Edina, MN
$850,000 5 bedroom, 3 bathroom, attached 2 car garage, 3008 square feet
More info here: https://bit.ly/42YHZYd
Gorgeous living space features a gas fireplace, beautiful hardwood floors & newer triple pane windows. The chef's eat-in kitchen features a gas cooktop, quartz countertops, Sub-Zero refrigerator and Bosch dishwasher which make cooking a breeze. Formal dining area just off of the kitchen & living space is ideal for hosting guests. The primary suite features a 3/4 bath and the main floor full bath impresses with a double vanity with quartz countertop.
Sunday, February 18, 3pm – 5pm
1613 W Franklin Ave, Minneapolis, MN – HUGE price reduction from $1,000,000!!
$900,000 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.
Something for everyone this weekend. I hope to see you at one of these great homes.
Finally, yes, I am a realtor! If you’re thinking of buying or selling a home, let’s talk about your plans. I’m here for you!
Thanks,
Mitch
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