13-County Twin Cities Area Market Update

Here are our current 13-county Twin Cities area real estate statistics.

Hello, my name is Mark Callender and I am a licensed real estate agent with RE/MAX Results. Because I have been helping families buy and sell their homes for more than 18 years, I am now helping their children to buy their first homes and their parents to downsize. No matter the direction you’re moving, my goal is to make the process as calm and enjoyable as it can be.

Let’s Explore Your Selling Options. I’ll help you sell your home at the price and terms you want. Free Selling Strategy Call

Our real estate market is insane right now, and today I’m providing the statistics. In our 13-county Twin Cities metro area, we have about a 50% decrease in inventory and months of supply compared to this time last year. The average sale price last year was $325,000, and this year it’s $352,100—an 11.2% rise—which is great for sellers but not so much for buyers. That exceeded 2021 expectations, as it was only predicted to grow 4% to 5%.

In Andover, inventory is also half of what it was last year. In 2020, the average sale price was $335,297, but this year it’s $406,907; home values are increasing very quickly.

If you’re considering buying, give me a call. Let’s discuss what strategy will work best for you. If you’re thinking about selling, it’s an excellent time. Interest rates are trending upward a bit, which could slow the market a little, but we haven’t seen that happen yet.

“Home values are increasing very quickly.”

One of our agents listed a home in Bloomington last week and received 133 showing requests in less than a day. Not every house is getting quite that many, but most are getting a lot.

If you have any questions about the market or real estate in general, call or email us. We would love to be your real estate resource.