How Selling Your Minneapolis Duplex Is Like Buying A Winter Hat
Every year when winter approaches in Minnesota I think I should buy a warm hat. I look online and in stores for one, and I always find a reason not to buy one; it’s too big, too puffy, too droopy, too tight…
Then that bitterly cold week we always get in January and February happens. All the hat choices sold to folks smarter than me, were given as gifts, or made their way off the shelf in a post holiday sale.
That usually leaves me with a rack of hats at the gas station to choose from at exorbitant prices. And having no other options, I buy the hat that isn’t perfect and pay a premium for it.
Believe it or not, this is like the Minneapolis and St Paul duplex market right now. While the month isn’t over, it’s unlikely Minneapolis or St Paul duplex buyers will see a surge of new listings this week. That means the 27 new listings in Minneapolis in December and 19 in St Paul are probably it. Coupled with active listings, there just aren’t a lot of properties for buyers to choose from. So if their duplex hunt is motivated by life circumstances, they are just going to pick one.
Every year would-be duplex sellers miss this fact. They wait until spring, often interpreted as May or June, to put their properties on the market. But that’s the time buyers have all kinds of duplexes, triplexes and fourplexes to choose from. With more competition, buyers are looking for the perfect property, just like a winter hat. As a result, properties have to be a bit closer to someone’s dream duplex; whether it be in condition and decor or cash on cash return. And if they don’t see it right out the gate, the long summer before them fails to inspire any sense of urgency.
In other words, if you’re thinking about selling your Minneapolis or St Paul duplex in 2025, your property may look like a pretty good option to the motivated buyers currently in the market who don’t have much to choose from.
Come spring, however, more listings and more competition may mean your duplex needs to be cute. And since that term’s subjective anyway…