Twin Cities Real Estate: Tips for Buying in 2019
You might have heard, correctly, that it’s a sellers’ market. “Supply-demand dynamics favor sellers,” the Minnesota Association of Realtors states, when it comes to homes below the $500,000 mark.
So, if you’re looking for a condo or a home this year, the key is to engage a Twin Cities REALTOR® who is market-savvy and ready to work hard for you.
Buying a condo or home may continue to be a practical and wise investment this year.
Moreover, investing where the jobs are can be a sound plan. It optimizes potential returns on your investment.
New residents are flocking to St Paul and Minneapolis. As a result, the Twin Cities is on track to grow faster than the nation’s overall population (PwC & Urban Land Institute: Emerging Trends in Real Estate 2019). This is vital to sustaining a robust job market—and, ultimately, our cities’ property values.
There’s a silver lining appearing for buyers.
A pattern has emerged. Some home buyers have been looking outside the city for better value. Sellers must respond to this expanded radius of competition.
- Home prices aren’t rising so fast any more.
- The pool of available homes, including condos and lofts, is expanding throughout the Twin Cities.
Overall, while there still are some challenges for buyers, the market is becoming more of a level playing field.
If your heart’s set on sustainable living in the heart of St Paul or Minneapolis, stay confident.
That is truly the best tip for buying a townhome, condo, loft or single-family home in 2019.
Also, buyers should be market-literate. Watch the job market. Most importantly, understand why buying in the Twin Cities makes financial sense.
This is a good time to buy. Please feel free to contact RE/MAX Results-Shannon Lindstrom, Minneapolis/St Paul REALTOR® who is prepared to work hard for you!