First Time Selling Your Twin Cities Condo or Townhouse?
The median price of a condo or townhome in the Twin Cities market in May 2019 was $206,945 via InfoSpark, which has increased 8.9% from the previous year. Prices are shooting up. Demand is strongest, though for condos or townhomes under $225,000. Especially for all the first-time buyers out there, the competition to find attractively priced condos or townhomes in the Twin Cities is fierce.
For you, the seller, this means:
- If the property is competively price, you may have a fast-moving path to closing.
- You may not need to sink a lot of time and cash into renovations, however you might want to do some updating.
- If a particular buyer’s financing falls through, you won’t be left in the lurch.
If your townhome, loft or condo is priced to sell, buyers may be lined up.
Walkable St Paul and Minneapolis neighborhoods are in high demand.
Not only do we have a shortage of homes for sale in the Twin Cities. We have a huge demand for the most connected and walkable neighborhoods.
Twin Cities builders are not keeping up with this demand. Why not?
- Most new developers are building—particularly condos—are big and pricey.
- Our downtown areas are in a growth surge. The Twin Cities Metropolitan Council has estimated a 2010-2040 population growth of +888,000.
- Local restrictions mean builders can only move so fast.
For a first-time condo or townhouse seller, the timing is perfect.
You couldn’t have timed your first condo or townhome sale any better. Now is a great time to sell!
Your Minneapolis-St Paul real estate agent has a duty to act in your best interest. Experience in the condo & townhome market enriches that role.
Questions? Contact me today and fast-track your condo or townhome sale. I can also help you find your new home, if you are buying in this highly competitive market.
Shannon Lindstrom, REALTOR®, AHWD, GREEN
748 Grand Avenue
St. Paul, MN 55105
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