Is the Twin Cities Housing Market Crashing?

By John Schuster

The John Schuster Group has sold over 5,800+ homes and has been the 10-year recipient of #1 Listing Agent with Coldwell Banker Realty statewide.

If you’ve been hearing that the Twin Cities housing market is crashing, the actual data might surprise you. Inventory is up more than 7% compared to last year, which means buyers have more choices than they’ve had in a while. Homes are also taking longer to sell. On the surface, that can sound like the start of a downturn.

Then you look at what sellers are actually walking away with. On average, sellers are still receiving 99.3% of their original asking price. That is not what a crashing market looks like. A market in real trouble doesn’t hand sellers nearly their full asking price. It hands them steep cuts and stalled listings, and that isn’t what’s happening here.

Well-priced homes are still generating real activity. In communities like Eden Prairie, Minnetonka, and Lakeville, homes that are priced right are still drawing strong interest, especially in the move-up price ranges. Buyers have more room to be selective, so pricing and preparation matter more than they did a couple of years ago. But the demand is there for homes that are positioned well.

What we’re seeing across the Twin Cities is a balanced market, not a broken one. Buyers have breathing room, sellers are still getting close to full price, and homes that are priced and presented correctly are still selling. That’s a healthier market than the headlines would have you believe, and it’s a very different thing from a crash.

If you’re curious what your home could realistically sell for in today’s market, I’d be glad to help. Call or text me at 952-222-9000, email me at john@johnschustergroup.com, or visit johnschustergroup.com, and I’ll put together a customized market analysis built around your home and your neighborhood. I look forward to hearing from you.