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

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.