by Chad Larsen
on Wednesday, April 5th, 2017 at 3:11pm.
The Spring Selling Season: New Listings by Month
The Twin Cities Spring real estate market is a bit of a chicken and egg question. Do the buyers come out first, then the sellers respond by putting their homes on the market? Or, do the sellers put their homes on the market drawing out buyers? What we've seen as a general trend in the Twin Cities, is; over the years, there has been a reliable pattern that sellers begin to put homes on the market in February, after the Super Bowl. From there, the numbers of new listings per month continues to rise. It will be interesting to see how the 2017 market plays out.
The real estate market in Minneapolis' Southwest neighborhoods, as demonstrated in the chart below, displays the typical cyclical nature of the market. New listings typically peak in June, and they did so here too. What is interesting to note is that it appears as there has been a step up in values, where properties once priced under $500,000 are now priced over $500,000. The subtle shift can be seen in the number of new listings priced between $250K and $500K price range (red) dropping in the first quarter of 2017 (from 1Q2016), while the number of new listings in the $500k-$1M range (green) is increasing. Time will tell if this holds true. New listings in the $1M+ ranges (purple) are fairly stable as in prior years. This chart also demonstrates the popularity of the Southwest neighborhoods, and their corresponding higher home values, when compared to the metro average. Here in Southwest we see the numbers of new listings in the $250-500K range far outpace those being listed under $250K, where Metrowide we would see these numbers more closely aligned.
For the graph, southwest Minneapolis includes: Linden Hills and the Fulton neighborhoods.
This chart is interactive, slide cursor over graph for further information.
If you’re interested in buying or selling, we’re here to help you. Our team of professional agents understand the market and are ready to help you in today’s busy real estate market. Contact us today to speak to a member of the team, 612-925-8411 or GetInfo@BergLarsenGroup.com.