B's Blogs April 20, 2023

Around the Lakes | April Market Report

April Showers

As the real estate market grows, more and more homes are becoming available on the lakes and surrounding neighborhoods. However, with the current demand from buyers, it seems like we could use even more options. It’s not hard to see why affordable housing has become a hot topic among locals, as median sales prices in these areas are often double or more than those in the Twin Cities as a whole. But while the challenge is clear, it’s important that we approach it mindfully. Despite this, the market continues to show strength, with median prices and days on market hitting new benchmarks. Word on the street is that, with population growth and buying power on the rise, we’re not looking at a slowdown anytime soon, even with current interest rates. It’s an exciting time to be a part of the real estate community, and we’re looking forward to seeing what the future has in store.