While inventory levels have slowly been creeping up, we should see even more new listings now that the snow is melting and we are seeing warmer weather. Many sellers are waiting until the end of April to Mid May to list their home so it will show its best. It is still very much a seller’s market and multiple offers are are just as common as they were last year, especially in the starter home price range.
The BRIX Market Meter – 9.7 as of April 10, 2023
The Market Meter shows the current pace of the market in the Twin Cities that a buyer or seller is likely to experience. It factors in the average showings per week per listing “demand”, inventory of homes “supply” and affordability. 0 to 1.99 is a strong Buyer’s market, 2 to 3.99 is a Buyer’s market, 4 to 5.99 is a stable market, 6 to 7.99 Seller’s market, and 8 or higher is a strong Seller’s market. If it goes above 10 or below zero then it is in an extreme market condition.
All real estate is local, click here to find your local NW Metro market stats, and reach out to Myra Jensen at BRIX Real Estate if you are thinking of buying or selling.
