Minneapolis St Paul Minnesota Real Estate Market Update

Where Are the Home Prices Heading in the Next 5 Years? Every quarter, Pulsenomics surveys a nationwide panel of over one hundred economists, real estate experts, and investment & market strategists about where they believe prices are headed over the next five years. They then average the projections of all 100+ experts into a single number. The results of their latest survey: Home values will appreciate by 4.4% over the course of 2017, 3.4% in 2018, 2.8% in 2019, 2.7% in 2020, and 2.8% in 2021. That means the average annual appreciation will be 3.22% over the next 5 years. The prediction for cumulative appreciation fell from 21.4% to 17.3% by 2021. The experts making up the most bearish quartile of the survey are projecting a cumulative appreciation of 6.3%. Bottom Line Individual opinions make headlines. We believe this survey is a fairer depiction of future values. Dan & Lisa Basil Elite Guest Service Professionals Pres...

By Jim Buchta Star Tribune October 7, 2017 — 11:04pm Twenty percent of all house listings in the Twin Cities metro had a price reduction as of August, twice as many as in the spring. The bulk of the markdowns are in the upper-bracket market. For five long years, the owners of a house at 2104 Kenwood Parkway — known for its appearance in the opening credits of “The Mary Tyler Moore Show” — waited for a buyer. Though the Minneapolis house was in perfect condition, exquisitely staged and on a picture-perfect street in a prime neighborhood, there was only one thing the seller could do to entice a buyer: Reduce the price. After nearly $1.5 million in markdowns — about half of the original list price — the seller finally hit the sweet spot and got not one, but two offers. The sale closed late last month. The Twin Cities home market is closing in on a record year of sales even while supply is extremely tight, giving sellers an advantage over buyers. But with winter just around the corn...