What Matters Most right now. Three data trends shaping decisions for buyers and sellers this summer.

Twin Cities western suburbs real estate report for residential single-family sales, by the numbers. Cities included are: Deephaven, Edina, Excelsior, Hopkins, Medina, Minnetonka Beach, Minnetonka, Minnetrista, Orono, Plymouth, Saint Louis Park, and Wayzata.


What’s interesting about this chart is that the winter months were a time for negotiation — buyers had the upper hand, especially with a motivated seller. You can see it in the numbers, too: homes closed at around 98% of list price in December and January, then recovered to full price, if not above, by spring and summer. It reflected slower buyer demand and longer days on market.
As the year went on, though, inventory built back up and homes started selling much faster. So what do we attribute that to? Did buyers who’d stepped away out of frustration come back to the market? Were homes simply priced well and showing well? Or was it confidence — buyers accepting that interest rates had stabilized and weren’t going to plummet? My take: it was probably a little bit of all of the above.


