Get the Skinny! September 2022

1 year ago

Get the Skinny!

September 2022

The Minneapolis Area Association of Realtors crunches numbers on the Real Estate Market each month. Here is what they had to say about September 2022! (Full Video below)

We all know the following -

Interest Rates have increased this year
There are still not enough homes for sale
Some buyers have been priced out of the market

Here are the September #'s for 2022 as compared to September 2021.

Pending Sales decreased by 29.7%
Closed Sales decreased by 23.9%
Median Home Price increased 6.3%
# of Homes for sale neither increased nor decreased - 0%
Month Supply of Homes - 1.9 month supply (which is a 18.8% increase, but we are still under 2month. A balanced market would be 5-6 months of homes)
% of Original List Price - 98.9%

What does this mean for you? Should you Sell? Should you Buy? Should you Stay where you are? Should you Rent? My answer is the same today as it was yesterday! It is the same today as it will be tomorrow too! You should do what is best for your life! If you have real estate questions that could help you determine what is best for your circumstances, please reach out, I would love to help! Let's talk about your specific situation.

Minneapolis Area Association of Realtor - Full Video