Navigating the Seller's Market in Minneapolis
More Than a Seller’s Market
In most cases, we define a seller’s market as anything less than 6 months worth of inventory.
At the time that this video was filmed, Minneapolis is dealing with less than two months worth of inventory at most given times.
What does that mean? Obviously, buyers are experiencing a serious version of the dreaded “seller’s market”. A strong market like this can spell out great opportunity for anyone with a home, but it can also be trouble for buyers that are looking for a place to purchase.
With inventory reaching these incredible lows, more and more deals are happening off the MLS or within the first couple of days after a property is initially listed.
Does that mean that it’s a bad time to buy?
Not necessarily. In our opinion, Minneapolis and St. Paul properties are poised for potential appreciation that’s beyond even the asking prices we’re seeing in today’s strong market.
While finding a great deal could be challenging, it could still be a great time to buy. We’ll help you to navigate the market to find the absolute best deals that are fitting for you and your needs.
Why Sell Off-Market?
If you’re looking to sell your duplex or are curious as to why anyone would sell theirs off the market, then you may be interested to know that this kind of situation becomes desirable due to tenant management situations.
In some cases, duplex owners hesitate to make their tenants withstand thirty, forty, or even fifty showings – all without any benefit to them at all.
It’s often better to have a couple of qualified buyers come through your property if you know that they will make a strong offer without the hassle that listing a place can bring.
We do many deals this way and simply put together buyers and sellers to ensure that everyone gets a great deal. If you’re a seller looking for buyers or a buyer looking for property, give us a call. We’d love to work with you to get you the best possible deal.
Also published on Medium.