Spring Minneapolis Duplex Market Starts Next Month

Let’s talk, like we do every year, about selling your Minneapolis or St Paul duplex, triplex or fourplex in the spring.

Believe it or not, snow or no snow, in the real estate world, the spring market starts right after the Super Bowl. Not, as many would believe, in May.

Many small multifamily property owners mistakenly believe that’s when all the duplex buyers come out and shop. If you look at the red line in the chart to the right, which represents sold listings in the seven-county metro area, duplex buyer activity is relatively constant, year-round.

There are, however, giant waves of new duplex, triplex and fourplex listings. If you’re thinking of selling in late spring or early summer, this means you will have more competition for buyer’s attention than you do for much of the year.

How are you going to win that competition?

By either being in better condition or being a better value than everything else on the market. In other words, your property either needs to be prettier and better maintained, or cheaper.

While those things are important no matter when you sell, they take on added significance when there is more competition.

If you’re thinking of selling your small multifamily property this year, give me a call. Your timing may be perfect.