Buyers Continue with Upper Hand in Twin Cities Housing Market

By
Real Estate Agent with Boardman Realty Minnesota License#90858

The Statistics are out for August and the numbers show that in the 13 County Twin Cities metro, home buyers continue to have the edge over sellers in the real estate market. Affordability is up. Closed sale prices are down. Home inventory per buyers remains in the 10 to 1 range. The good news for sellers is that homes are continuing to sell but at lower prices.

chart

 

 chart

Opportunity is knocking. Have you seen the new ads by the Twin Cities Builders Association? In the television spot, there are doorknockers gone wild--knocking endlessly to get out the message that it is time for buyers to buy. It is more than a promotion for their new blog/website, it emphasizes the fact that the market hasn't been this good for buyers in years. Buying now is a great investment opportunity.

Compound the increased inventory with the Federal Reserve cutting the interest rates by half a percentage point yesterday; it is an awesome time for buyers to step into homeownership!

As a Realtor working in the north metro counties of Anoka, Chisago, Ramsey and Washington, I see these trends first hand. From Ham Lake to White Bear Lake and Blaine to Forest Lake, homes are selling when sellers take the time to prepare the home for sale AND price properly. With an abundance of inventory on the housing market, buyers have literally dozens of options. Overwhelmed, they will weed out the overpriced, overlook homes with bad photos, and take time to consider all options prior to writing an offer.


2 truths of the current real estate market:

  1. It is a Great Time to Buy a Home!
  2. Selling a Home takes Preparation, Patience and Willingness to Negotiate.

AWESOME Featured Listings:

If you are relocating to Minnesota, are looking for Homes for Sale in the north and east Twin Cities metro area and need help from a professional Realtor, give me a call or visit my website for a FREE Relocation Packet.  Acreage homes are my specialty! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2007 Teri Eckholm  http://www.terieckholm.com/

Posted by

Teri Eckholm. REALTOR with Boardman Realty, is a native Minnesotan who has lived and worked in the Minneapolis St Paul metro all of her life. She specializes in lakeshore homes, acreage properties and first time home buyers but assists anyone making a move in the north and east Twin Cities metro.

If you are buying, selling or relocating to Minnesota and need help from a professional REALTOR®, give Teri , a call or visit her website for a FREE Home Buyer Success Guide or FREE Home Value Report She specialize in acreage and lakeshore properties in the north and east Twin Cities metro area including Ham Lake, Lino Lakes and all communities in the Forest Lake School District! Serving Anoka, Chisago, Ramsey and Washington Counties in Minnesota.

Copyright 2019 terieckholm.com

 

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Rainer
201,353
Mana Tulberg
805 County Real Estate - Camarillo, CA
Real Estate Agent - Camarillo CA
Teri, Great report. This is the time for sellers to wake up and realize what they have to do to make their homes more desirable to buyers.
Sep 19, 2007 12:35 PM #1
Rainmaker
87,192
Paula Henry
Home to Indy Team @ HomeSmart Realty Group - Avon, IN
Realtor - Indianapolis Real Estate - 317-605-4174
Teri - This is an awesome report and very detailed. Maybe we should all resort to door knocking to get the word out. The market is perfect for buyers and yet it seems like the more we say it, the more we are ignored.
Sep 19, 2007 12:57 PM #2
Rainmaker
558,962
Maggie Dokic | Miami, FL | 305.81.HOUSE (46873)
eXp Realty LLC - Miami, FL
GREEN, CDPE, SFR, Pinecrest | Palmetto Bay |
Teri, I am very much a visual person.  You did a great job on this post for your Twin Cities home buyers. 
Sep 19, 2007 01:46 PM #3
Rainmaker
337,464
Thesa Chambers
Fred Real Estate Group - Bend, OR
Principal Broker - Licensed in Oregon
Teri - this is a great visual and important information for your buyers and sellers - great job
Sep 19, 2007 05:12 PM #4
Ambassador
1,542,073
William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional

Hi Teri,You did a marvelous job on illustrating the localism post. I am very impressed. Very well done and great information!

 

Sep 19, 2007 05:14 PM #5
Ambassador
920,301
Missy Caulk
Missy Caulk TEAM - Ann Arbor, MI
Savvy Realtor - Ann Arbor Real Estate
Teri, great graphs and a way to present market data for the Twin Cities.
Sep 19, 2007 10:19 PM #6
Rainmaker
720,487
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Mana--It should be encouraging to most sellers that homes are selling...The key is to get them priced appropriately and make them outshine the competition!
Sep 20, 2007 04:43 AM #7
Rainmaker
720,487
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro
Paula--The Twin Cities Builders Association has a clever ad running...The door knockers are a bit annoying but they are certain to draw attention to the opportunities out there in the housing market for buyers.
Sep 20, 2007 04:47 AM #8
Rainmaker
720,487
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Maggie and Thesa--THANKS!! I appreciate the comments!

William--Cant take credit for the illustrations...Mpls Board of Realtors put out the publication. I just added some additional commentary and information about the great opportunities for buyers in the MN housing market.

Missy--Thank You!!

Sep 20, 2007 04:50 AM #9
Rainmaker
206,314
Chris Tesch
RE/MAX Bryan-College Station - College Station, TX
College Station, Texas Real Estate
Teri, great charts and graphs!!!  Wish my Board of Realtors would put out such great illustrations!
Sep 20, 2007 10:36 AM #10
Rainmaker
1,073,964
Gary White~Grand Rapids Home Selling Pro Call: 616-821-9375
Flexit Realty "Flexible Home Selling Solutions" - Grand Rapids, MI
Real Estate Services You can Trust!
Teri, this is a fabulous market update.  It is concise, very understandable and offers great information for clients to make a reasonable decision concerning your market.
Sep 20, 2007 01:53 PM #11
Rainer
83,923
Joanne Hanson
Coldwell Banker Colorado Rockies Real Estate - Frisco, CO
Summit County, Colorado Realtor
Teri, your charts are awesome!  They really spell out what is going on in your market without having to read a wall of words and fight through the numbers. 
Sep 20, 2007 04:55 PM #12
Rainmaker
497,501
Steve Scheer
Realty Oasis - Metro Brokers - Highlands Ranch, CO
Highlands Ranch Real Estate - Denver Real Estate
Teri - How interesting that the Buliders Association is running ads.  I hope your buyers are getting the message that its a great time to buy. 
Sep 21, 2007 12:58 AM #13
Rainmaker
720,487
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Chris--I belong the the SPAAR the St Paul Area Association of Realtors and this is from Minneapolis. It is a part of a link that sent to me with a number of charts. SPAAR has great information too but it does not have the visual impact.

Gary--Thanks! I hope it will be helpful to buyers sitting on the fence.

Joanne--Very visual I will agree...Thanks!

Steve--Builders are struggling in the Twin Cities with a number of developments and no buyers. Right along with the rest of us...They aren't really promoting the website as much as the opportunity for buyers to get a great home at a good price. I didn't know it was the builders association's ad until I visited the site.

Sep 21, 2007 02:27 AM #14
Rainer
51,935
Christina Ethridge
The North Idaho Dream Team powered by SKE Realty Group - Coeur d'Alene, ID
Teri - an agent from your area taught my RSPS class this past week.  He showed us some awesome graphs (just like yours above) that your associations provide for you all.  Those are some great stats compilations!
Sep 23, 2007 08:44 AM #15
Rainer
236,423
Susie Roscoe
Signature Realty Associates - Brandon, FL
Real Estate Specialist | Brandon, FL
Great reports Teri!!  You are always on top of the pertinent details in the Twin Cities!
Sep 26, 2007 01:01 PM #16
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Rainmaker
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Teri Eckholm

REALTOR Serving Mpls/St Paul North & East Metro
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