Our predictions about Twin Cities median home prices this year.
The Twin Cities real estate market is red-hot! We’ve talked before about the extreme lack of supply and surge in buyer demand, and that’s what has created the imbalance in our current market. The question we get all the time is, “What does this mean for the value of my home?” Taking into account all the data and information available to us today, we’re going to make some predictions about the expected home price increases in the Twin Cities.
“We predict that we’ll see a 12% to 15% increase in median home sales prices this year.”
The monthly supply and listing inventory is down 50% from last year. Many of our listings are receiving multiple offers and getting great terms for our sellers who are netting up to $50,000 over their list price. We have a large pool of buyers sitting on the sidelines, waiting for new inventory to come to the market. They’re going to pay a premium for your home.
We predict that we’ll see a 12% to 15% increase in median home sales prices this year. In 2020, the median home sales price increased by 8.9%. Remember that this is only our prediction, and it is not guaranteed. Our market can change very quickly.
If you’re thinking about selling soon, now is the time to get a market analysis of your home. You might be surprised how much you could get for it. If you’d like a free and confidential equity analysis of your home and a free copy of our home marketing guide, please go to johnschustertwincitiesrealestateblog.com, or give us a call at (952) 222-9000.
