Twin City real estate market for 2016

Real estate market data in MN by Joel Friday of Keller Williams Classic Realty

Excerpts from a recent interview with Homes.com regarding my thoughts on the Twin City real estate market for 2016

Why do you think 2016 will be a great time to buy a home?

Interest rates have remained low and the supply of homes will be better this year as those that bought in 2009-2011 can reap some equity from appreciation and updates to move up to to a home that better fits their current needs.

Why do you think 2016 will be a great time to sell a home?

There will be a good influx of move up buyers as I mentioned in reasons to buy. That means the $300k plus market should do well. Anything under $200k seems to be receiving a lot of attention even now in December here in the Twin Cities.

What do you think the general trends will be in the housing market of 2016?

I see a balanced market in most homes over $200k. Which means modest price increases for sellers and ample inventory for buyers making their selection. In Anoka County we have seen 7.5% increase over 2015 and the Twin City market has seen 7.3% increase over 2015. This has been steady for 5 years now and should go back to the normal 4% in the next few years.See Chart below or call Joel now for a chart from your city at 612-868-6287

If you have one piece of advice to give folks looking for a new home in your area in 2016, what would it be?

Everyone in Minnesota has been conditioned to list in March or April so that is when the inventory is the highest. Start getting your home ready now and list in January or February to get ahead of the curve.

What home features or amenities do you see in the most demand when buying or selling a home?

Updated kitchens and bathrooms continue to be the areas that help sell homes. Focus on these areas for the best bang for your remodeling buck.