Minneapolis St Paul Minnesota Real Estate Market Update

  📈 While property values are expected to appreciate over the next five years, rising prices are just one advantage of homeownership or holding real estate. 💰 Owners may also benefit financially through tax deductions—such as depreciation and mortgage interest—which can reduce taxable income. 🏡 Additionally, as principal payments are made on financed properties, equity grows by steadily decreasing the outstanding loan balance.

What Buyers and Sellers Need to Know This Spring By  Margaret Heidenry April 21, 2025 Home shoppers entering the market might find themselves in a head-scratching situation this spring. In one neighborhood, listings may vanish in a flash—often above asking price. Just a few miles over? Crickets. Recent economic uncertainty is also likely to affect the housing market, leading to some surprises. “The current real estate market is definitely one of confliction,” said  Cara Ameer , a real estate agent with Coldwell Banker who operates in California and Florida. “You may have homes that have  multiple offers  and others that are sitting. A lot of this depends on what type of home it is, where it is, and what it has or does not have.” Whether you’re  buying  or  selling  this season, success may come down to reading your local market—and adjusting your strategy accordingly. More homes on the market Much of the see-sawing in the housing market comes from...

  At The Basil Group, we're celebrating our 27th years at your #1 Twin Cities Real Estate Brokerage! All data from NorthstarMLS. Provided by Minneapolis Area REALTORS®.   U.S. sales of existing homes totaled 4.06 million in 2024, down from 4.09 million the year before, according to the National Association of REALTORS®. Meanwhile, sales of new single-family homes grew for the second year in a row, with an estimated 683,000 units sold last year, a 2.5% increase from 2023, the U.S. Census Bureau reports. It looks like 2025 will be another impressive year for buying and selling Real Estate!   In the Twin Cities region, for the week ending February 1: • New Listings increased 4.5% to 1,029 • Pending Sales decreased 6.7% to 687 • Inventory decreased 1.9% to 6,844   For the month of December: • Median Sales Price increased 4.6% to $370,000 • Days on Market increased 9.8% to 56 • Percent of Original List Price Received increased 0.3% to 97.0% • Months...

  September 2024 REAL ESTATE NEWS Brought to you by Dan and Lisa Basil . Home Equity 101: Understanding and Using Your Biggest Asset Home equity is a strong financial asset that homeowners can use in many ways. It represents the difference between the current market value of your home and the outstanding balance on your mortgage. As you pay down your mortgage and as your home's value appreciates, your equity grows, creating a valuable financial resource. Did you know you can use your home equity for various purposes? According to latest research , three out of five home loan holders have at least $100K in tappable equity (the sum a borrower can access while keeping a healthy 20% equity cushion). Here are some ways you can make the most of your home equity: Home Renovations: Enhance your living space and raise the value of your home to boost your equity even more. Consolidation of Debt: Consolidate ...

  REAL ESTATE NEWS Brought to you by Dan and Lisa Basil . Navigating Homeownership with an HOA If you’re considering buying a home in a community governed by a Homeowners Association (HOA), you’re not alone. HOAs are common, offering a structured community environment with shared amenities and well-maintained surroundings. However, navigating life with an HOA can come with its own set of challenges and benefits. Here’s a handy guide to help you make the most of your HOA experience. The Pros of Living in an HOA Community Well-Maintained Properties and Common Areas: One of the primary advantages of living in an HOA community is the assurance that your neighborhood will be well-maintained. HOAs enforce rules that ensure lawns are mowed, properties are in good repair, and common areas are clean and attractive. This can enhance your home’s curb appeal and overall value. Access to Amenities: Many HOA communities off...

  Overview: The Minneapolis housing market continues to show dynamic trends, with both listings and sales demonstrating growth compared to the previous year. Let’s dive into the key highlights: New Listings and Pending Sales: Year-to-date, there have been 10.6% more new listings and 1.8% more pending sales metro-wide compared to the same period last year. Seller activity has outpaced buyer activity, resulting in consistent inventory growth. Inventory Levels and Prices: In June 2024, the number of homes for sale increased by 10.6% to 8,905 active listings. Despite additional supply, there are still only 2.4 months of inventory, indicating a seller’s market. Buyers face affordability challenges due to rising prices and higher interest rates. Market Times and Negotiations: Sellers accepted offers at 100.1% of their list price on average. Homes spent an average of 34 days on the market before selling. Single-family homes sell faster (31 days) than condos (56 days). Outlook: While the m...

   Confidence Index for buyers was flat from a year ago but up for sellers: 22% of respondents expect a year-over-year increase in buyer traffic in the next three months, down from 26% one month ago and flat from 22% one year ago. 22% of respondents expect a year-over-year increase in seller traffic in the next three months, down from 26% last month and up from 16% one year ago. With supply still limited relative to demand, 27% of homes sold above list price, down from last month (29%) and a year ago (33%): 68% of respondents reported that properties sold in less than one month, up from 60% a month ago and down from 73% in April 2023. Homes listed received an average of 3.2 offers, up from last month (3.1 offers) and from one year ago (3.1 offers). Due to the lack of housing inventory, the pace of the market, and the use of technology, 6% of buyers purchased a home based only on a virtual tour, showing, or open house without physically seeing the home. This is flat from 6% one...

As temperatures rise and flowers begin to bloom, now is the perfect time for a spring home sale. In fact, real estate data provider ATTOM found that properties sold in April, May and June garnered the highest returns over the last 12 years. If you want to take advantage of the season’s vibrant energy and […] MICHELLE ABENDSCHAN As temperatures rise and flowers begin to bloom, now is the perfect time for a spring home sale. In fact, real estate data provider  ATTOM  found that properties sold in April, May and June garnered the highest returns over the last 12 years. If you want to take advantage of the season’s vibrant energy and high demand, here’s what you can do to ensure a successful  sale. Maximize Your Curb Appeal Spring is the ideal season to show off the beauty of your home and capture buyer interest before they even step through the front door. Nothing is more inviting than a freshly mowed lawn, blooming flowers and well-manicured trees and shrubbery. Buyers will...