This Week's Market Outlook
It feels like the market has been in sleep mode for the past three or four weeks, but this week, it felt like things were waking up a bit. It's all about the rates. As of today, rates are down another few hundredths of a percent to 6.27% for a 30 year conventional and 5.65% for a 15 year note. My sense from the realtor community is that once rates drop back into the 5's, demand may pick back up so that sellers take back their market power. But we'll see. The general direction for rates feels like they're headed down, which would be great for buyers who need purchasing power and for sellers who'd like to see rates for their NEXT home come down a bit before they sell.
If you're a buyer, make sure the numbers work for you, whatever the rate may be, and let's work together to get out there and find something great! If you're a seller, it's a good time to have me drop by and provide a professional opinion on the likely selling price you can expect in this market. Let's talk!
Open Houses
New inventory seems to be opening up a little faster in Saint Paul than Minneapolis at this moment, so you may find me hosting opens there as often as I do in Minneapolis. That's the way it is this weekend, as I'm hosting two open houses on Saturday in Saint Paul's Summit Hill and Mac/Groveland neighborhoods. Here you go:
Saturday, September 7, 12 Noon - 2pm
1930 Grand Avenue, Saint Paul, MN
$525,000 5 bedrooms, 3 bathrooms, 1 car detached garage, 2000 square feet
More info here: https://rem.ax/3ASAJ6d
On the quieter end of Grand Avenue not far from Saint Thomas, you'll enjoy the benefits and convenience of the best of Saint Paul and the walkability of Grand and Summit Avenues.
Saturday, September 7, 3pm - 5pm
1031 Saint Clair Avenue, Saint Paul, MN
$569,900 3 bedrooms, 2 bathrooms, 2 car detached garage, 2014 square feet
More info here: https://rem.ax/4gceIPR
If you love old home character and like-new remodeling, then this is the home for you. Kitchen and baths have been renovated, laundry is on the main floor, new air conditioning in 2022 and fresh paint throughout. Come visit the lovely Summit Hill neighborhood and see if this is the home you've been looking for!
My Listings
I still have two listings in the Centre Village building at 433 S 7th Street in Minneapolis. If you are, or know, Vikings fans who want a place to be that's near the stadium, come check out my 1 bedroom and 2 bedroom condo units! It's a super building with updated party room, business center and community room, outdoor heated pool, club-level gym with sauna, steam room and hot tub. These aren't open this weekend, but I'm happy to schedule a showing for you, or someone you know, any time. Here those are:
433 S 7th Street Unit 1827, Minneapolis, MN
$199,900 2 bedroom, 2 full bathroom
Great 970 square foot floorplan and amazing 130 degree view of the city, including US Bank Stadium!
HOA is $839/mo and covers most everything except electricity.
Link to listing info here: https://rem.ax/3AMZQXN
433 S 7th Street Unit 2219, Minneapolis, MN
$129,900 1 bedroom, 1 full bathroom
The simple floorplan is the thing here. Many smaller units don't have a great flow. You'll be impressed with this one! HOA is $631/mo and covers most everything except electricity.
Link to listing info here: https://rem.ax/3THF5DN
About Mitch
Yes, I'm a Realtor in the Twin Cities servicing the larger metro area and western Wisconsin. I represent buyers and sellers (both very different skillsets, by the way) who want great service and positive outcomes! If you're thinking of buying or selling in the next 12 months, give me a call and let's talk about how it works, the market and what your dream home looks like to you.
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