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Twin Cities Real Estate Sales Data

Real Estate Radio Hour Update

As real estate professionals, we strive to keep in touch with our listeners and provide them with information that we hope they will find useful. This newsletter is an opportunity to let you know about the state of the market and current trends. It may even touch on ways that you could enhance your home’s value. I hope the market data and articles will help you with understanding real estate today and help you with your real estate decisions. If you have any questions, please do not hesitate to contact us.

Andy Prasky/ Chris Rooney

Trends, Tips & Tricks

Twin Cities Real Estate Sales Data

Average Listing Price (last 12 months)

AVERAGE LIST PRICE IN DECEMBER

Single Family Homes $435,533 Condos/Townhomes $217,224 Multi-family Homes $274,979

Home Improvements and Which Ones to Do

Whether you plan to sell in the near future, or just want to improve the value of your home, here is one low cost improvement you should consider.
Paint the interior. If you haven’t painted in 10 years or more, your ceiling is probably looking dull and the colors on your walls are out of style.
New home owners have a tendency to use the same color throughout most of their house. That color is usually white, or another neutral color. You can increase the value of your home by choosing more contemporary colors, oftentimes selecting more vibrant colors for at least a few rooms in your home. Freshly painted ceilings will brighten your home.

Twin Cities Real Estate Sales Data

Days on Market (last 12 months)

CURRENT AVERAGE DAYS ON MARKET IN DECEMBER

Single Family Homes 521 Condos/Townhomes 511 Multi-family Homes 551

Negotiate the best Deal

Buyers are finally being able to take advantage of cooling trends in previously hot markets. Multiple offers are no longer being thrown at sellers as soon as the For Sale sign hits the front yard. Here’s a tip about negotiating the best deal.
You sometimes hear that the amount of your offer should be x percent below the seller’s asking price or y percent less than you’re really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order.

Twin Cities Real Estate Sales Data

Price Reduction (last 12 months)

RECENT PRICE REDUCTIONS IN DECEMBER

Single Family Homes 4.0% Condos/Townhomes 5.2% Multi-family Homes 4.9%

Monthly Trivia articles

January

Many people choose the New Year as a reason to make positive changes to their lives. If you are making resolutions this month, make sure they are reasonable. Set yourself up for success, not failure.
Pope Gregory XIII established January as the first month of the year but January is named after Janus, the Roman god of doors, beginnings, sunrise and sunset. Janus had one face looking backwards and one looking forwards, an apt image for reflecting on the past year and yet still facing the upcoming year.
The birth flower for January is the Carnation or the Snowdrop. The modern birthstone is Garnet (strength, health, prosperity, and perseverance) and the traditional birthstone is Rose quartz (forgiveness and emotional balance).