Spring in February

The spring real estate market is in full swing even though it is still winter and will be for several more weeks.  It has more to do with income tax refunds and returns than it has to do with the weather.

The graphic is a screenshot from the NorthStarMLS of activity over the last seven days. If I compare new listings with pending status listings I can see that demand for houses is strong.

activity dashboard
market activity in St. Paul for the last 7 days

Some homebuyers are getting refunds that will help with down payments.  Others are relieved that they don’t owe money and are ready to spend.

Here is a snapshot of home sales in January for the whole state:

Minnesota home sales
Minnesota home sales for January 2020

 

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