THE NUMBERS ARE IN—2015 BEST YEAR IN 10 YEARS!

“The Annual Housing Market Report—Twin Cities Metro” published by the Minneapolis Area Association of Realtors is in and is it ever good, especially for homeowners who have been waiting to make a move. This annual report reflects statistics for the 13 County Metro Area. Closed sales for 2015 were up 13.7% from 2014 and the median price was up 7% while the mean average rose 4.1%. While that increase in the averages looks good, it is also at a level which is probably sustainable and NOT creating a bubble like happened in 2004 to 2007, which eventually burst. Since the recovery started in early 2012, homes have come back nearly 96%. This is really good news for sellers and those considering selling. But, coupled with still historically low interest rates, it is in fact, also very good news for buyers. With rates at about ½ of their historical averages, the differences way more than make up for the moderate price increases we have seen. Talk about a WIN/WIN!!! But now is the time to make the move, as most of the talk is for somewhat higher rates later this year. A decision to look now or to put your home on the market would mean a move in April to June, considering average market time and escrow time. Usually perfect weather for moving.  To see the whole report, go to Mnhomesbydave.com and click on REAL ESTATE NEW where I have posted it. Feel free to contact me with any questions and thanks for reading.

David Feerhusen

David Feerhusen

Broker/Realtor, CDPE, GRI, CRB
Contact Me