The Advisor No. 9
ENGEL & VÖLKERS RYAN PERTILE
®
Two thousand and nineteen went by so fast and I’m sure you can relate! As always, our family tried to make the most out of the year and we jammed it full of fun activities and travel. For us, it felt like every week brought something new with Greyson. He has developed an obsession with anything he can push, dinosaurs, anything on wheels and of course sports balls he can throw while babbling nonstop. He’s our little blessing and cannot wait to see what 2020 holds. Switching gears, I do want to discuss some real estate. If you have listened to the media recently, it might be difficult to maintain a positive outlook. As 2019 came to an end there was a lot of speculation about the possibility of an upcoming recession. While I won’t try to predict the future, the economy consistently ebbs and flows all the time and recessions are part of history and our future. The real question many are asking and the one that I constantly receive in my profession is what does this all mean for the housing market? It is a great question and let me first start by stating that recessions have historically not lead to decreased home prices. Other than 2008, housing prices have actually increased during 3 of the last 4 recessions. History shows that housing continues to be a solid investment and a great appreciating asset over time. The economist’s outlook for 2020 has indicated that existing home sales could fall slightly from 2019. On a local level, the indicators point to a more gradual increase over the spring & summer seasons. As demand heats up in the spring, driven by the growing number of millennials entering the market, the supply of homes for sale could be squeezed to one of the lowest levels of inventory in a quarter-century. With this squeeze comes slightly higher values due to a lack of inventory in certain price points. As we kick off the New Year, I expect the housing market to remain very robust and prosperous for those looking to take advantage of the market. Buyer demand will continue to hover at all-time highs while inventory consistently stays low. These economic factors by in large will fuel another positive year within the housing market. -Ryan Pertile
Current Market Stats New Listings = + 4.2% Closed Sales = +1.2% Avg. Days on Market = 46 Avg. Sales Price = +4.1% % of Original List Price = 98.1% Inventory of Homes For Sale = -5.8% *Citation: “Monthly Indicators” by Minneapolis Area Association of Realtors
A few kind words.......
I’m an inexperienced homebuyer. The smartest move I made was to enlist Ryan to help with my search and purchase. Ryan has wonderful local knowledge, and provided expert advice, guiding me through the selection and purchase procedures. Highly recommend! - Gary B. Our experience with Ryan was that he made the sale quick, easy and effortless on our part. Other than moving out, he handled everything and the results were precisely where he predicted for the price, time, and logistics. We would recommend Ryan to anyone looking for a knowledgeable and professional realtor. We give him our highest recommendation. - Tim & Sue M. Ryan was fantastic to work with. He was knowledgeable of the local market, accommodating, kind and all around just a great guy. He explains that his aim is to be your full-service realtor for life, not just this one point of sale. Great philosophy! I would recommend him to anyone. - Michael & Brian
THANK YOU FOR YOUR REFERRAL Jack & Morgan Cunningham Randy & Katy Kelly RYAN PERTILE TELEPHONE +1 612-805-0059 E-MAIL RYAN.PERTILE@EVREALESTATE.COM ENGEL & VÖLKERS MINNEAPOLIS 1601 HENNEPIN AVE • MINNEAPOLIS • MN 55403
