08 Jan 2024 October Housing Report
Each month the Minnesota Area Realtors puts out a housing report for the prior month! Matt, our broker, breaks them down and offers some insights on the report! Please check them out each month and reach out if you have questions!
Take a look at what October had to offer through the blog, number breakout, or quick snapshot below. Enjoy!
I will be honest, although less frightening than the prior report in September, October doesn’t have a ton of new, valuable information to offer. Many buyers are in full tire-kicking mode or just starting their 2025 search. Sellers, on the other hand, have drawn that line in the sand with their attention being turned to after the 1st of the year if they have the luxury of waiting. However, if you are a buyer who is active and hit that seller who isn’t looking to wait, a deal can be had. For example, I just had a client secure a property for 10% under the most recent comparable sale in the immediate neighborhood. It doesn’t always work out, but mid-November to end of December can sometimes serve as real estates’ version of “Black Friday” from a deal perspective. So…depending on your circumstances, do not simply turn the page and shut it down for the year.
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