MSP Spring Real Estate Outlook!

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 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. 



Comments (1)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

Thanks for the market update!  It is always good to see what is going on in your area.

Mar 21, 2021 03:22 PM