Realtor Nanci Anderson 

Not many of us want to look in the rearview mirror on 2020 – so many ups and downs across the globe.  Even in the Twin Cities real estate market, it was full of ups and downs.  This graphic gives you a quick look.

What Made 2020 a Roller Coaster?

Buyers were jumping in....!

  • Record low-interest rates – still under 3% from many lenders
  • Work / Home balance was challenging – need more space and dedicated workspace
  • First time home buyers wanted to get out of rising rents

Sellers were making cheddar…..!

  • Median home sale price rose 8.9% - record low inventory with strong buyer demand drive home prices higher
  • More time on their hands, able to make home improvements that attracted higher sale…

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These are truly unprecedented times. Minnesotans have been exemplary in respecting and honoring the 'Stay at Home' order issued by Governor Walz.  We will do the same with the new 'Stay Safe' order effective May 18, 2020.  Supporting our local and small businesses are key to refueling our communities   While times are definitely different, this does not mean that real estate activity has come to a halt. Real estate has been identified as an essential service and was exempted from the Stay at Home order.  Even with the new Stay Safe order it is not back to business as usual.  This unprecedented situation has caused inventory to shrink as well as some buyers to hit the pause button.  However, deciding to move is a very personal choice, and…

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