NW Metro Real Estate Market Update February 2025

At BRIX Real Estate, we monitor the market conditions very closely. BRIX produces a weekly Market Meter that indicates if it is a buyer, seller or balanced market based on inventory, closings, number of showings and foreclosures.  

As you can see right now we are seeing a market that is tipped toward a seller’s market.  We are still (STILL!) experiencing low inventory in the Twin Cities, many of the potential sellers are holding on to their low interest rate mortgage and postponing their moves.  We do have pent up demand from buyers despite the hight rates and I recently listed a fixer upper on a Thursday and we had 6 offers by Sunday.

One market to look into right now is New Construction. Many builders are offering incentives on homes that are completed or near completion and are offering below market interest rates and other financial incentives such as funds toward your closing costs if you use their lender and title company.  

For potential sellers – a home that is staged, marketed and priced correctly will sell quickly – keeping you in the drivers seat during the sale.  If you are interested to know how much your home is worth right now, email me and I can provide a market analysis. 

For potential buyers – I have heard several other agents say – “Buy now because when rates go down, prices will go up! (You can always refinance later)”.  This may be true, but I counsel my buyers that it is more important now than ever to sit down with a good lender and find out how much home you can afford with a payment that you are comfortable with. This is not the time to get in over your head. I can start sending you listings anytime so you can understand what you can buy in your price range.  If you are looking for a great lender to speak with or would like listings sent to you let me know.

As always I am here as a resource to answer your real estate questions and concerns. Feel free to reach out anytime, and let your family and friends know I am here for them too! 

Myra