Your Monthly Market Update September 2023 VS 2022

Your Monthly Market Update September 2023 VS 2022

A Glimpse into September's Market Movements

September's narrative is one of nuanced changes, each metric telling a part of the story of the Twin Cities' real estate market:

• New Listings: The market saw a decrease in new listings by 6.4%. This contraction suggests a hesitation among sellers to enter the market, possibly awaiting more favorable conditions or reflecting a broader trend of inventory tightening across the region.

• Closed Sales: A more pronounced decline was observed in closed sales, which fell by 17.1%. This significant drop could indicate a range of factors, including potential buyers being more cautious or facing challenges in securing financing amidst changing economic conditions.

• Median Sales Price: Amid these shifts, the median sales price rose by 2.2%. This increase, albeit modest, signals a continuing appreciation of home values in the Twin Cities, offering a silver lining for sellers and indicating a resilient demand in the face of fewer transactions.

The shifts observed in September 2023 are but a snapshot in the ongoing narrative of this vibrant region's housing market. For those looking to buy, sell, or simply understand the market, staying informed and agile will be key to navigating the opportunities and challenges ahead.

Buyers:

If you're a buyer and have questions about the home buying process, be sure to download my Ultimate Buyers Guide.

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Sellers:

If you’re a seller, now might be the right time for you to put your home on the market. Wondering What Your Home Is Worth? I would love to help. Let's connect and set up a time to talk about your goals and plans for selling!

Check Out My Sellers Guide To Learn More About What I Do For My Clients To Get Them Top Dollar!

Also Go To My WEBSITE For More Information About Selling Your Home And My Sellers Tips Blogs.