Minneapolis St Paul Minnesota Real Estate Market Update

  Today’s Tale of Two Housing Markets   Depending on where you live, the housing market could feel red-hot or strangely quiet right now. The truth is that local markets are starting to move in different directions. In some places, buyers are calling the shots. In others, sellers still hold the power. It’s a tale of two markets.   What’s a Buyer’s Market vs. a Seller’s Market? In a  buyer’s market , there are more homes for sale and not as many buyers. That means homes sit longer, buyers have more negotiating power, and prices  tend to soften as a result. It’s simple supply and demand.   On the flip side, a  seller’s market  happens when there aren’t enough homes available for the number of people looking to buy them. Because buyers have to compete with each other to get the house they want, that leads to faster sales, multiple offers, and rising prices.   Right now, both of these scenarios are playing out, depending on where you are.  So...

  📈 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...