Posts from: Market Insight
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Mortgage rates stayed below 7% for the 9th consecutive week and are the lowest they've been since mid-December.This is good news for buyers and sellers .Buyers - makes buying a home more affordableSellers - the lower the rate, the more buyers that will enter the…
Here are the median sales prices for the neighborhoods surrounding Lake Nokomis. With buyer demand rising, these may be the lowest we see in…
The two most important things happening in the real estate market surrounding Lake Nokomis.1) the median price for a home reached an all-time high at $370,000 up 4.7% from last March.2) the median time to sell a home is 30 days, however, this isn't an accurate…
The spring market is here!!!!Multiple offers are becoming the norm again as buyer demand ramps up.2/3 of the new home that hit the market in the last week sold in less than a weekend. Many had multiple offers.If you are thinking of selling sometime in 2025, NOW…
One minute market update on the housing market in the Nokomis area for February 2025.The two things everyone wants to know when they ask "how's the market?"1️⃣ Has the value of my home gone up or down?The median sales price of a home in our neighborhood is…
One minute market update on the housing market in the Nokomis area for January 2025.The two things everyone wants to know when they ask "how's the market?"1️⃣ Has the value of my home gone up or down?The median sales price of a home in our neighborhood is…
Here are the 5 most expensive home sold near Lake Nokomis in 2024. This is the first time 3 homes have sold for over $1 million in our neighborhood.5️⃣ 4901 17th Ave S - $900,0004️⃣ 1000 E Minnehaha Pkwy - $915,0003️⃣ 326 E Minnehaha Pkwy -…
One minute market update on the housing market in the Nokomis area for December 2024.The two things everyone wants to know when they ask "how's the market?":1️⃣ Has the value of my home gone up or down?The median sales price of a home in our neighborhood was…
One minute update on the housing market in the Nokomis neighborhood.The two things everyone wants to know when they ask "how's the market":1️⃣ Has the value of my home gone up or down?The median sales price of a home in Nokomis for October was $355,500 down from last…
Why have mortgage rates risen since the Fed rate cut?1) the Fed does not set mortgage rates. Mortgage rates more closely track the yield on the 10yr Treasury Bond. Recent economic reports have put upward pressure on the bond yields.2) the Presidential election is less…
According to Realtor.com this week is the best week of the year to buy. Here are three reasons why:1. Inventory typically peaks around the beginning of October. The evidence supports this as active inventory in the Nokomis area has hit its highest levels of the year.2.…
