Jan. 4th, 2024 Twin Cities Market Update

As of the new year, we’re seeing interest rates stay in the mid 6’s, although they’ve ticked back up recently toward 6.7%. Sellers signed 21% more offers in December than in 2022. Homes that are priced too high are sitting on the market while those that are positioned correctly tend to sell fast. The average days on market is exactly where it was this time last year. In fact, the real estate market is holding fairly steady with where it was last winter. The Fed has left rates unchanged for three consecutive meetings and signaled they expect to cut rates three times over 2024. Great news for those of you looking to buy a home!