Twin Cities Market Update – Prices Up, Competition Heating Up

Happy February! The real estate market in the 7-county metro remains strong, with home prices continuing to rise:

• Median sale price: Up to $397,000, a 7.1% increase year over year.

• Homes are selling fast: Supply is at just 0.9 months, meaning if no new homes were listed, every available home would be sold in less than a month.

• Sellers are still in control: The median percentage of last list price remains at 100%, with many homes selling over list price—even in the winter months.

• Days on market: Now at 39 days, mostly due to overpriced or poorly marketed listings. The best homes are selling quickly and with competition.

What This Means for You:

🏡 Buyers – Get in before the spring market heats up even more.
🏡 Sellers – Now is the time to prepare your home to maximize your return.

If you have questions about buying or selling, let’s chat. I’d love to help you navigate this market.

Reach out anytime!

Joe Schwartzbauer & Grey Duck Properties