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160 $2M+ Homes for Sale in Twin Cities

$2 Million + Homes in the Twin Cities

While the Twin Cities isn't consider the land of the uber-wealthy, there is still a lot of money around here.  Right now we have approximately 160 homes for sale on the MLS that are listed above $2,000,000! While you may not have the financial ability to purchase these homes, it is still fun to look at them, right? Most Expensive Homes for Sale in the Twin Cities   … [Read more...]

Housing Market’s Virtuous Cycle

The Housing Market Virtuous Cycle

The housing market has come roaring back in many markets throughout the U.S. and some have been questioning whether the surge of activity we're seeing has staying power. In many markets, from 2008 through much of 2012 we saw that nearly half of home sales were of foreclosed or short sale properties.  What we're seeing now is a return back to the Traditional Seller as foreclosure and short sale inventory declines sharply. What's crucial about this return to a more normal market is that in a Traditional Sale, … [Read more...]

Twin Cities Pending Home Sales 2nd Highest in 7+ Years

Home Sales on the Rise

 Twin Cities pending home sales for the week ending April 20th, 2013 surged to their 2nd highest level in more than 7 years. In one week, 1,337 homes went under contract, which was the highest level since August 2005 except for a single week in 2010 when the first time home buyer tax credit was expiring. Pending sales were nearly 10% higher than the same week a year ago and continues the trend of increasing sales, declining inventory and rising prices. While sales are up, new listings are effectively flat … [Read more...]

Twin Cities Preforeclosure Notices Down 45%

2012_Q4_CountyBreakdown_Graph

The positive trends in housing continue as the Minnesota Home Ownership Center released Q4 2012 preforeclosure notice statistics that show such notices declined an astounding 45% from a year ago in both the Twin Cities and Minnesota as a whole: (click on images for a full view) As preforeclosure notices proceed a sheriff sale by 2-6 months, the continued decline of notices foretells future declines in sheriff sales and the continued waning of foreclosures in our housing market. There were still 39,000 … [Read more...]

2012: Twin Cities Housing Turnaround

Home Sales on the Rise

The Twin Cities saw a surprising turnaround in the housing market in 2012.  While I had predicted that the Twin Cities had hit bottom in January 2012, no one, including myself, had expected as strong of a 2012 as we had. While final numbers are not in yet, 2012 was a banner year for the Twin Cities. Prices surged, Traditional Seller activity increased while distressed sales decreased, buyer demand swelled nearly 20% and the inventory of for-sale homes dropped almost 30%. That increase in buyer demand and … [Read more...]

Twin Cities Home Sales on Strongest Pace in 6 Years

Wither further proof that the Twin Cities home prices have bottomed, the first 7 months of 2012 have seen the highest number of homes sold in the last six years! Let's stop and think about that for a moment.  While the economy is still slowly on the mend and in a time where financing qualification requirements are tougher than they have been in a decade, we're seeing enormous demand by home buyers.  Some of this activity is certainly investors coming in to pick up investment properties at decade-low prices … [Read more...]

5 Ways Low Inventory Will Save The Housing Market

As the number of homes for sale continues to decline in many areas across the country, more and more people are saying the lack of inventory is becoming detrimental to the housing market.  I will submit to you that its effect is exactly opposite. #1 - Higher Offers While inventory is declining buyer activity is still very strong and thus many houses are now garnering multiple offers.  As I've said before, the second there is more than one offer on the table, an offer negotiation turns into an auction.  In my … [Read more...]

University of St. Thomas Housing Index: That’s Not Your Data

In 2011, The University of St. Thomas Opus College of Business started producing a report called the "Minneapolis St. Paul Residential Real Estate Index."  I had heard about it at some point last year but didn't pay much attention. Then this year when I saw the report's authors being quoted in the local news media and the numbers they were reciting, a strange feeling hit me.  I had seen these numbers before.  I then did some research and looked over the entire contents of several months of their reports and … [Read more...]

2200+ Short Sales Stuck Waiting for Bank Approval

Short Sale and Foreclosure Resource

Short Sales By The Numbers: 3,900 We have about 3,900 short sales currently for sale in the Minneapolis/St. Paul area on the MLS. 2,200 In the Twin Cities, of those 3,900 short sales we now have more than 2,200 that have received offers and are waiting for the seller's lender(s) to provide a response, 900 more than we had nearly 20 months ago and 500 more than we had 7 months ago.  By the way, this means that 2200+ buyers are tied up waiting for properties they may or may not ever get to buy. 56% Percent of … [Read more...]

Disclaimer

TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.