Twin Cities Real Estate Outlook

In a report out from The Minneapolis Association of Realtors covering the Twin Cities 13 county metro area, February figures appear dismal but is the market as dire as the numbers indicate? Pending sales were down 12% and the median sales price was down $17,000 from February 2010. It is important to note that last February buyers were driven by the tax credit so the comparison is not really an "apples to apples" comparison. I see the increase of 8.6% in pending sales from January 2011 to February 2011 as a positive sign. The commentary in the report also points out short sale inventory with offers on it are not counted in the pending sales statistics. It will be interesting to see how March numbers play out. For detailed information about your area and price range, contact me.

Jacqueline A. Knauf, RE/MAX Results

Where is Twin Cities Market Heading?

At the end of January there were 16.6% less homes on the market than a year ago. If you have been waiting to put your home on the market, now may be the time.

Here is the video summary of the Twin Cities real estate market courtesy of the Minneapolis Area Association of Realtors. This informative monthly summary includes current trends and activity and also future projections. Watch this video for an overview of the real estate market.

If you are wondering what the value of your home is in today's market, please contact us for a free price analysis.

-Jacqueline