For many areas and price ranges throughout the Twin Cities there are more buyers than sellers.
How does that impact you as a buyer?
Inventories are projected to be even less than last year and the buyer pool is also not projected to be less than last year. This equates to more buyers per listing and increase the possibilities of multiple offers, higher sales prices and decreased days on the market. Add to that the federal reserve’s comments of raising interest rates this year and sense of urgency for the buyers increases.
How does that impact you as a seller?
Depending on price range and areas the decreasing inventories will benefit you with higher prices, shorter sale period and multiple offers.
It is up to you agent to review the market for what areas and price range you are buying or selling in. For further information click here for the link to the startribune.com article from 1/14/2017 titled “For Twin Cities home buyers this year, the thing that matters most is speed”