Minneapolis, MN home prices and housing market

In Minneapolis, homes are selling in just thirty-seven days, yet nearly one in five sellers has already cut their price. If you are weighing a sale this year, that split is the whole story, and it tells you exactly how to price. Start with the good news. The typical home here is worth about three hundred forty-four thousand dollars, essentially flat from a year ago, and the median time to sell is only thirty-seven days. Well priced homes are moving. Median asking prices sit around three hundred forty-two thousand dollars, right on top of what homes are actually worth, which tells you most sellers are being realistic. But here is the catch. Roughly two thousand eight hundred homes are on the market, and buyers have real options. That is why nearly 20 percent of listings have taken a price cut. In a market this quick, a cut that common means one thing: homes priced even a little high are getting skipped. Price right from day one and you will likely sell fast. Aim high, and you join the one in five chasing buyers down. If you are wondering what your home is worth right now, get a free estimate at Home Value Pros dot com.