Last days on the water before winterizing the boat, it's a perfect time to reflect on where our Twin Cities housing market stands heading into 2025 and beyond.
The Reality Check:
- Mortgage rates: Stuck at 6.5-7%. Anyone waiting for 3% rates is wasting time.
- Average home price: $425K and climbing (up 4-5% year-over-year)
- Inventory: Still brutally tight. Those 3% mortgage holders aren't going anywhere.
What's Moving: Well-priced homes under $500K are getting swarmed with multiple offers. Anything move-in ready sells in under 30 days. The good stuff doesn't last.
2025-2026 Outlook: Expect steady 3-5% appreciation to continue. The fundamentals—job growth, population increase, inventory shortage—all point to sustained demand.
My Advice: Stop waiting for the perfect moment. If you find something that works and you can afford it—buy it. You can always refinance later. For sellers: Price it right, make it shine, and it'll move.
The season's changing, the lake's getting colder, but the housing market? Still hot enough to make your move.
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Ornell Group
Brokered by Real Broker | Real Luxury
Northern Suburbs Lake Real Estate Specialist
Ready to see how strategic luxury marketing maximizes your property's exposure and value? Let's discuss a customized approach for your lakefront or luxury estate.
Content and insights provided by Ornell Group. Real estate services brokered by Real Broker. Luxury lake properties marketed through Ornell Group | Real Luxury. Content enhanced and transformed with AI assistance by our team. All market data, pricing, and property information subject to change.
