Minneapolis Duplex Sales Survive Holiday Freeze

said on January 7th, 2014 categorized under: Twin Cities Real Est

Dripping IciclesThe week between Christmas and New Year’s appears to be one of the most consistent for the Minneapolis and St Paul duplex market.

After all, in 2013, there were 9 new listings for the last week of December; up just one from the year before. Five of these (55.5 percent) were brought to the market by traditional sellers, and five of the eight sellers last year (62.5 percent) could say the same.

There were 9 duplex owners who received and accepted offers during the week. Curiously, of the 2013 group, just 44 percent of these were signed by sellers with equity in their properties. Of the seven successful sellers at the end of 2012, 71.4 percent walked away from closing with a check.

The single family home market did not perform with the same consitency. New listings were down 14.5 percent, Pending Sales were down 7.8 percent and overall Inventory decreased 9.1 percent.

When the deep freeze thaws and we’re ¬†finally moving toward a normal spring housing market, we’ll have a better idea of what the market’s doing.