Tag Archive | "Minnesota"

Minnesota Real Estate Market Showing Signs of Life

The Minnesota residential real estate market is starting to heat up, as more people are looking to buy a new home. The Twin Cities have posted numbers that are very promising, and more growth looks to be imminent.

 

Home sales in the Twin Cities are starting to increase after a long period of decline and stagnation. Home prices have also shown signs of increasing in the last few months. Many young couples and families are finally looking to enter the housing market this year. As the economy finally starts to show signs of growth, consumer confidence is improving. In addition, the market is very favorable for buyers, as prices are quite low, and mortgage loan interest rates are near all-time low levels.

 

In the Twin Cities, inventory is already low. That means that prospective homebuyers must compete with others if they hope to get the house that they want. Such competition is creating an environment in which pricing growth is almost guaranteed.

 

Housing inventory numbers are down more than twenty-five percent from last year in both the first time homebuyer market, as well as the move-up buyer market. Those selling homes are seeing, for the first time in many months, multiple offers come in for their homes. With limited inventory, buyers simply cannot hold back for a better deal. If they do, it is likely that the house they were hoping to buy will be gone.

 

The current state of the housing market in the Twin Cities gives hope for the rest of the region that the residential real estate market as a whole is finally starting to improve.

Posted in ResidentialComments (0)

Housing Market in Minnesota Gaining Strength

Real estate analysts in Minnesota are becoming more optimistic about the prospects of recovery in the state’s residential real estate market. According to the recent data from the state of Minnesota, nine out of ten key residential real estate market indicators showed positive growth in January. As such, economists believe the residential property market in Minnesota is stabilizing.

 

Residential real estate prices are still down in Minnesota, likely due to the number of foreclosures that still make up the state’s housing inventory. However, the total amount of foreclosures available in the state’s housing inventory will likely drop in the coming months. During the month of January, sales increased more than six percent from the previous month. They were up nearly fifteen percent from where they were one year earlier. As a result of the increased sales, inventory has fallen, and as such, prices will probably start to increase in the near future.

 

With the exception of the West Central region of Minnesota, sales increased all over the state. The North Central region, and the Headwaters region demonstrated the largest increase in sales. The number of overall sales in the North Central region increased by more than two hundred and thirty-five percent during the month of January. The total number of sales in Headwater region demonstrated an increase by more than one hundred and seventy-five percent during the month of January.

 

The total residential real estate inventory in the state of Minnesota has dropped for eight straight months. As the inventory continues to fall, it is likely that the state’s housing market will continue its positive growth in the coming months.

 

Posted in ResidentialComments (0)

Minnesota Real Estate Ranks Among Nation’s Best

Although Minnesota’s residential and commercial real estate markets have not been as high performing in the last year as those from other states, a Minnesota real estate group was name as one of the top twenty real estate companies in the last year.

The company, Remax Advantage Plus played a major role in over seven hundred and fifty real estate transactions last year, of which totaled nearly one hundred and fifty million dollars in sales. The team has seventy real estate agents that have remained focused, and work around the clock to achieve success despite the difficult status of the real estate market in the United States.

One of the primary ways that Remax has been able to achieve success is by focusing on what is known as the growth markets. A growth market could include foreclosures, short sales, and working with investors. It should not come as a surprise that the majority of the top twenty real estate agencies are focusing on such growth markets, as foreclosures and short sales have become increasingly common in the past few years.

Contrary to what some may believe, the top agents working for Remax have been able to maintain both the sale and dollar volume at very similar levels to those from five years ago when the market was thriving.

One of the biggest reasons for Remax’s success is the company mentality that the sale of every house should be treated the same, regardless of the price of the home. By putting in the same amount of work for a fifty thousand dollar house as that of a five million dollar house, the agents are able to maximize on sales.

Posted in Finance and MortgageComments (0)


Twitter Chat