How Is the Twin Cities Market Doing?

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As you can see in the screenshot above, Greg is the proud owner of a brand new mustache! We compete in a competitive baseball league and it’s playoff time, so our playoff tradition of growing out our mustaches will continue leading up to the state tournament in St. Cloud. 

Now to the real reason we are here, a market update for the Twin Cities. We are seeing some really great numbers right now, and prices are up pretty much across the board. In the $150,000- $199,000 price range, prices are up 11.9% In the $250,000-$350,000 range, prices are up 24% and even in the $1 million + market, we are seeing an 8.8% increase in prices.

Another thing we want to touch on is the median sale price. It has increased from $220,000 to $234,000 in just the last year. Townhome median prices have also risen from $156,000 to $165,000 and the condo market is slightly up, from $142,000 to $145,000.

Inventory levels in the $350,000 and below price ranges are much lower than they were last year. Above that level, they are slightly higher, but overall inventory is down 11%. This leaves us with a 3.7 month supply of inventory and makes it a great time to sell too. You can also buy affordably right now with low interest rates, and get the best of both worlds.

If you have any questions for us about the market, just give us a call or send us an email. We would love to hear from you!