MSP Spring Real Estate Outlook

By
Real Estate Agent with RE/MAX Results

This Spring 2021 market is the strongest seller-driven market.

Homes in fair condition (and reasonably priced), are typically receiving:

-Multiple Offers (in some cases 15 - 20 offers) 
(that is not a typo...there are just so few homes on the market for buyers to choose from, especially in the mid and lower price ranges.) 

-"Appraisal Gap" Coverage in Cash

-Most homes selling 6-12% over list price

-Increased Earnest Money

-Seller Dictating Extended Closing Dates

-Waived or Reduced Buyer Inspections

This has become the "new normal", at least with the the current market cycle...as the forecast below suggests, it appears that this year will likely set another record with historically low interest rates, number of homes sold, and record high prices. 

CLICK HERE FOR THE FULL REPORT

 

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