Yesterday I wrote about the low and mostly falling inventory of homes for sale in the Twin Cities Metro area. With a high demand for homes, there are numerous opportunities for sellers.
There are some opportunities for homebuyers too, especially in the downtown areas. Both downtown St. Paul and Minneapolis have at least a 4 month supply of homes for sale, where the rest of the metro area has 1 or 2 month supply.
There are some great opportunities in the downtowns where it is still possible to buy a condo without getting into a multiple offer situation. It is even possible to buy for less than the asking price.
The downtowns are still experiencing a seller’s market but it is weakening. There are opportunities in every housing market.