​Happy spring to you all. I know you must be wondering how this spring market is stacking up to markets of the past. Has inventory increased at all? Are buyers still out buying? How fast will my property sell? All good questions and we at the Angels Sadat Group are here to help!
 
Inventory: Last March, we had just 1.7 months of inventory, therefore, it is good news that we are up from last year, at 2.1 months of inventory. This may not seem like a big leap; however, it shows signs that we are moving in the right direction. Seller’s market? Yes. Remember, that a balanced market is about 6 months of inventory. This means that if no new homes came on the market, we would run out in 6 months. At this point, if no new homes came on, we would be out of inventory in just 2.1 months. Still, we are moving in the right direction!
 
Buyers: Yes! We have lots of buyers out looking for the right home, currently; however, pending sales in the Twin Cities are down about 8% from last year. Interest rates and increasing prices have held many buyers back from jumping back into this competitive market, but those who know that it is time for a change are out searching and hoping for more inventory!
 
Sellers: Of course, every micro-market is different, but our listings are still selling within the first weekend and they have all had multiple offers. Homes under $800,000 in most markets that are priced right and staged to sell are selling quickly right now; therefore, buyers are preparing more than ever to be competitive with their offers.
 
What about you? Is it time for you to start thinking about your next move? Call now, so we can have a conversation about your ideas and plans. I am always happy to help you sort out the details and strategize so that you can navigate your local market with wisdom and help you to successfully accomplish your goals. We are happy to help!

How's the market? This is the most common question I am asked when out and about in the world.

Many of our clients pulled back at the end of 2023, wondering if interest rates would continue to climb and if home prices would come down. Let's take a look at our stats coming into the New Year and find out what might be ahead for this year! 
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Have interest rates stabilized? Well, thankfully, interest rates have fallen a bit since their height in November of 2023. Only time will tell us what to expect next on this one!
 
Have home prices come down at all? As always, I have to say, "It depends." The market is always shifting, and we find that prices soften up at various times throughout the year. However, on the whole, we have found that though prices have stabilized a bit, they have not declined. The median sales price in January was still up 1.1% from last year. So, though the arc of price appreciation has flattened a bit over the past year, we have not gone backward in most areas. 
 
What about inventory? On this one, perspective is key. We "bottomed out," so to speak, in the months of November 2021-April of 2022, where we had an average of just 1.2 months of inventory. These were historically low months! There has been a slow but steady climb since then, and today (As of January 2024), we are at 2.0 months of inventory. It doesn't seem like a huge increase, but it's getting better for buyers. 
 
Overall, things are looking up! As interest rates and prices even out a bit and inventory comes into the market this spring, we should see lots of movement from both our buyers and sellers. Who do you know that needs our help this year? We love helping your family and friends, so send them our way. We are happy to help!

We often hear, in the real estate realm, that Spring Market is when everyone comes out to buy and sell homes. True, spring has historically been the busiest time for real estate, and our stats for spring generally show marked increases in listings, sales, pricing and overall movement (no pun intended;). However, we have been noticing that over the last couple of years, home sales just haven’t slowed… at all. Certainly, there have been temporary “bumps” in the real estate road, such as the start of COVID-19, the election, and other short term hiccups; yet, we are finding that home sales just keep climbing in number (and price!).

As of December 2020, we have the highest number of pending sales since May of 2005, and we may crush 2005 numbers yet this year (it is only January!). So, it seems spring is here… all the time. There is no bad time to list your home or to buy a home, in the current environment. So, the good news is that your timing is really up to you.

Now, we must keep in mind that as demand rises, prices rise, as well. Therefore, if you are a buyer who is ready to buy, I certainly recommend jumping into the market as soon as you can. Due to the lack of inventory, many of our buyer clients are going the new construction route, if prices are in line with their goals. I am a new construction expert, so I would love to discuss this option with you!

As for listings, the lack of inventory has been a great advantage for sellers; especially for those who are not in price points that are competing with new construction. Even with new construction booming, however, our luxury clients are seeing amazing returns on their properties, as many luxury buyers prefer established neighborhoods to new neighborhoods.

​There is something for everyone this spring, and it all starts whenever you want it to. Are you wondering what YOUR best path might look like, as you consider a move? Please reach out! Let’s chat about the details and create YOUR plan for success! 

Each year, as the market shifts and market dynamics change, we observe changes in the types of clients we generally see emerging to brave the market of the moment. As we are still finding the Twin Cities to be a market that is low on inventory, with houses being snapped up within the first few hours on the market, we have also noticed a shift in our client base. 

Here are the 3 of the most common reasons the buyers and sellers are calling us for help these days: 

1. Not enough space. Square footage needs change as families change or general needs change. Many clients are working from home or adding children to their clan and find that these changes require more space than they needed previously. This makes a move essential in many cases.
2. Relocation. Whether for a job opportunity or a desired change of scenery, we have lots of clients moving in and out of the Twin Cities, and we're happy to help with this transition. 
3. Equity opportunity. Several of our clients were unable to move in the past, because that hadn't built up enough equity to have a sufficient down payment for the next home. Due to the great increase in our sale prices, they are now able to come away from their sale with sufficient funds to make the move they wanted to make years ago. Though they may fear not being able to find the right next home, we have been very successful in planning for their purchase and we work closely with our loan professionals to make their moves successful and find the right home! 

Do you find yourself wondering if this market is the right market for YOU to make a move, given your unique situation? Give me a call! I'm always happy to consult with you and share market information that will help you to discern your next best steps.