December 2019 Market Report: Minneapolis Real Estate

January 9, 2020 by Joe Grunnet

If you are looking to buy or sell a Minneapolis condo or loft in 2020, you may be curious of the current standing of the Minneapolis Real Estate Market compared to last year. Staying up to date on the current trends will not only allow you to feel more confident moving forward, it will also help you and your Urban Realtor make important decisions in regards to timelines and negotiations.

December 2019 saw a typically decrease in some areas on the market while it stayed strong compared to 2018 in other areas. For the Minneapolis Central real estate market, we saw a slight rise in new listings and price per square foot, while we also witnessed declines in closed sales and average sales price.

The number of new listings was up 3.6% compared to 2018 coming in at 29 total new listings. However, because the average days on market decreased by 6% the average showings per listing also saw a drastic decline of 28.3%. This could also likely be due to the time of year.

Closed sales also saw a slight decrease compared to 2018 coming in at 60 total closings in the Minneapolis market, 15.5% less than last year. And while price per square foot is still steadily increasing, average sales price took a slight dip in December.

Want an in-depth comparative analysis of your property? Or do you want more information on current Minneapolis market trends? Give us a call today or inquire on our website today!

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