The Advisor October 2021
We are deep into pumpkin spice season and gearing up for Halloween. After missing the “normal” halloween experience last year, we’re truly looking forward to dressing up and trick-or-treating with our loved ones. Don’t be Spooked The future in residential real estate is expected to have some turbulence over the next 24 months. One thing is clear: the new drivers in the luxury real estate market will be Millennials and Gen Xers. Millennials and Gen Xers are projected to have greater wealth at a younger age than their counterparts in years past. In fact, it is projected that 80% of luxury home sellers in 2022 will consist of those younger generations. This is a definite shift from the recent past. Low Rates to Continue? Witchful thinking One other big factor in the coming year is going to be interest rates. All evidence points to an increase in rates. We are currently bottoming out and ready for the trend upwards. What does this mean? NOW is the time to both buy and sell. When rates increase, buyers can start to get priced out of homes they would have been able to purchase. As a seller, this means a smaller buyer pool for your property. Don’t let patience put you in a less than ideal situation. Let’s have a conversation now to formulate a plan. Movember: Chris Mosier and the Ryan Pertile Group will be hosting a Movember Gala event Nov 17th to benefit the Movember Foundation. Originally known almost exclusively for their mustaches, the movement has grown considerably over the last decade into an organization focused on Men’s health. Men’s health is in crisis. Men are dying on average 6 years earlier than women, and for largely preventable reasons. Unchecked, prostate cancer rates will double over the next 15 years. Globally, testicular cancer is the most common cancer among men aged 15-39 years of age. And across the world, one man dies by suicide every minute of every day, with males accounting for 75% of all suicides. Movember is uniquely placed to address this crisis on a global scale and fund groundbreaking projects all over the world, engaging men where they are to understand what works best and accelerate change. This event will not only serve to raise awareness but to also raise funds for the movement. Of course, we will have lots of fun as well with old fashioned cocktails, mustache and fundraising contests, music, all set in the bespoke setting of the Semple Mansion. We hope you will join us or make a donation.
Exclusive Listings:
150 Portland Ave S #603 - Minneapolis
3 Bed | 3 Bath | 3,054 SF. | 3 Parking Stalls Offered at $1,649,900
525 North 3rd Street #311 - Minneapolis 2 Bed | 2 Bath | 1,500 Sq. Ft. Offered at $875,000
3251 Louisiana Ave S #318 - Saint Louis Park 2 Bed | 2 Bath | 1,517 Sq. Ft. Offered at $350,000
317 Groveland #215 - Minneapolis 2 Bed | 2 Bath | 1,203 Sq. Ft Offered at $350,000
5801 Drew Ave S. - Edina
4 Bed | 4 Bath | 3,289 sq. ft. Offered at $1,099,999
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
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 Suburban Executive Townhome Move in ready up to $800,000 3-4 bedrooms, ~3,500 Sq. Ft. Western Suburban Townhome Villa Prefers New(er) construction Approved up to $750,000 3-4 bedrooms, 2+ bathrooms, 2,500+ sq. ft On Silver Lake in St. Anthony Approved up to $700K 4 bedrooms minimum, 2+ bathrooms, roughly 3,500+ sq. ft 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. 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
Current Market Stats New Listings = -13.6% Pending Sales = -14.4% Median Sales Price = +11.1% % of Original List Price = 102.4% Avg. Days on Market = 22 Days Inventory of Homes For Sale = -14.8% Month Supply of Inventory = 1.4 Month
*Citation: “Monthly Indicators” by Minneapolis Area Association of Realtors, September 2021
RYAN PERTILE TELEPHONE +1 612-805-0059 E-MAIL RYAN.PERTILE@EVREALESTATE.COM CHRIS MOSIER TELEPHONE +1 952-412-0643 E-MAIL CHRIS.MOSIER@EVREALESTATE.COM ENGEL & VÖLKERS MINNEAPOLIS 1601 HENNEPIN AVE • MINNEAPOLIS • MN 55403