The Advisor No. 11
ENGEL & VÖLKERS RYAN PERTILE
®
What an interesting season it has been! I hope this edition of The Advisor finds you healthy and able to keep some calm in this ever-changing world. My wife and I are anxiously awaiting the arrival of baby boy #2! We are certain that this will bring many new changes for our family, but in 2020 we all must be ready for just about anything! One thing this year has taught us is to be very adaptable and also thankful for the blessings we do have.
In this time of flux, I’d like to dive into some current real-estate trends
Fall was the new spring… at least for real estate. The coronavirus pandemic has changed the way we live and has introduced a “new normal”. As many economists predicted, it seems that this new normal (for the time being at least) is an active fall and winter real estate market. Buyer demand continues to remain strong across many price ranges while supply stays low. Being a buyer in this competitive market can be stressful and pressure-filled as consumers strive to find the place of their dreams. Being a seller or someone looking to make a move-up purchase can mean selling high, less time on the market, and potentially finding a great deal on your next purchase.
Welcome to the Burbs Lockdown measures have forced millions to stay at home. This time at home encouraged many to re-examine the spaces they occupy and re-envision their wants and needs. People have been searching for bigger spaces, especially work-from-home options. Although many are finding this space in the suburbs, many people are still looking to be in the city to assist in the reemergence of our great city! The pandemic will continue to shape the real estate market well into 2021 and beyond. With so much uncertainty between the pandemic and changing of the administration, it’s important to make sure that any decisions you make regarding real estate have the best possible input. If you’re considering making any moves, I’m always available to answer any questions you might have. I’m never too busy for you or anyone you know. -Ryan Pertile
Current Market Stats New Listings = + 10% Closed Sales = +21% Avg. Days on Market = 36% Avg. Sales Price = +10.2% % of Original List Price = 100.5% Inventory of Homes For Sale = -31.4% *Citation: “Monthly Indicators” by Minneapolis Area Association of Realtors, September 2020
RYAN PERTILE TELEPHONE +1 612-805-0059 E-MAIL RYAN.PERTILE@EVREALESTATE.COM ENGEL & VÖLKERS MINNEAPOLIS 1601 HENNEPIN AVE • MINNEAPOLIS • MN 55403