Posted in: Selling a home

It's a good time to sell a home in Minnesota

Great time to sell in Minnesota

Today’s market may be good news for sellers who have been waiting on the sidelines, says Edina Realty president Barb Jandric. Low inventory and pent-up demand means that if you sell a home in Minnesota, you could benefit from increased competition among buyers.

“The reason this is a good time to sell, especially for traditional sellers, is that there is a shortage of homes for sale right now. Sellers are finding that their homes are selling more quickly, and many are experiencing multiple offers, which can increase the sales price of a home,” said Jandric.

Additionally, Jandric says there is a pent-up demand for quality homes. Throughout the downturn, buyers have been cautiously waiting for the right time to buy. With the lowest unemployment numbers since 2008 in Minnesota, many buyers are now confident enough to take advantage of the historically low interest rates and home prices.

“Minnesota was one of the first markets to go into the housing correction, and we really feel that we are one of the first to come out. We have as favorable a market for a seller as we have experienced in the last eight years,” said Jandric.

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Status Definitions

For sale: Properties which are available for showings and purchase

Active contingent: Properties which are available for showing but are under contract with another buyer

Pending: Properties which are under contract with a buyer and are no longer available for showings

Sold: Properties on which the sale has closed.

Coming soon: Properties which will be on the market soon and are not available for showings.

Contingent and Pending statuses may not be available for all listings