What buyers and sellers need to know about the fall housing market.
It’s time for a quick market update, where we’ll delve into the critical trends of the fall housing market in 2023.
First and foremost, 2023 continues to be a seller’s market. Closed sales have declined by 25.4% over the last rolling 12 months. Although interest rates have risen to the mid-7% range, there’s a reassuring trend of steady growth—the average sale price in the 13-county metro area has surged by over 3.9% in the past 12 months. This makes Minnesota an excellent place to be a homeowner, and the Twin Cities continue to exhibit strength. Buyers are anxiously anticipating new inventory to hit the market.
If you’re curious about the current value of your home, you can discover it instantly without the need to consult with an agent. Just visit JohnSchusterGroup.com and input your address to receive an immediate estimate.
If you’re considering buying or selling a home, rest assured that we’ll help you get moving. Call or email us anytime.
