The Advisor - December 2021 by Ryan Pertile

The Advisor December 2021

Happy Holidays Season’s Greetings from the Ryan Pertile Group. Wishing you a holiday season filled with love, joy, and prosperity. Inflation & The Future of Home Prices We have just experienced 115 months of year-over-year price gains. Where does that leave us? Inflation is happening at a drastically fast pace right now. You see that at the gas station, the grocery store, and everywhere. The federal rate-setting committee expects inflation to reach 4.2% by the year’s end. This will be the highest annual US inflation rate since the Twins won the world series. Employers will follow suit with an expected increase of 3%. Although that is a higher increase than a normal year, it fails to keep up with the inflation rates. So… what does that mean? Monthly budgets need to get re-worked. Goods cost more, and many of our earnings have not increased enough to cover the difference. This knowledge is causing many consumers to be concerned and halt their search for a home. Is that the right move? It always depends on your situation however we still think the current environment is right to be a purchaser. We do not anticipate home prices to decline in the near future. The combination of low rates and higher buying power make the environment right for those prepared to buy or conduct a move up purchase. We can’t forget to mention that home ownership is helping to combat affordability struggles because of the ability to earn equity at an accelerated rate. Despite median home prices being 5.01x higher than the median income, interest rates are here to the rescue. They remain low, allowing people to overcome the economic challenges and acquire real estate. This atmosphere can be complex, but we’re here for you. Let’s start with a conversation and discuss the options that make the most sense and put you in the best possible position to take advantage of today’s prosperous market conditions. Whisper Listings The Ryan Pertile Group has a number of exclusive listings being prepared for the market and if you are interested to learn more about what is coming available in the near future let’s connect. We are committed to providing a bespoke real estate experience every way possible in today’s transactional focused market. #whoyouworkwithmatter

Exclusive Listings:

Clients we represent in search of their next abode: Know of friends or neighbors considering their selling options that match one of the criteria below? Our clients would greatly appreciate you keeping them in mind. Western / Southwestern Single Family Approved up to $450,000 3 bedrooms, 2+ bathrooms, with 2,500+ sq. ft Would prefer move-in ready however able to take on some projects On Silver Lake in St. Anthony Approved up to $700,000 4 bedrooms minimum, 2+ bathrooms, roughly 3,500+ sq. ft Minnetonka Schools 4 bedrooms minimum plus office, 3 bath & 3,500+ sq. ft. Approved up to $750,000 Updated or recently renovated would be an added bonus

Scan for a taste of our exclusive marketing.

St. Paul - Summit Ave Neighborhood Move-in ready up to $700,000 Minimum 4 bedrooms, 2 bathrooms & 2 car garage Would consider a fixer upper for less Downtown Condo 2 bedrooms, 2 bathrooms, 2 heated parking stalls Approved up to $600,000 Prefers the North Loop or Mill District

Current Market Stats New Listings = -4.2% Pending Sales = -6.0% Median Sales Price = +7.9% % of Original List Price = 100.3% Avg. Days on Market = 27 Days Inventory of Homes For Sale = -16.4% Month Supply of Inventory = 1.4 Month **All data provided by the MLS year-over-year comparison through November 6th, 2021.

RYAN PERTILE TELEPHONE +1 612-805-0059 E-MAIL RYAN.PERTILE@EVREALESTATE.COM ENGEL & VÖLKERS MINNEAPOLIS 1601 HENNEPIN AVE • MINNEAPOLIS • MN 55403