Nokomis Real Estate Market report for January 2022

Hello, this most recent report sheds a lot of light on what's happening in the market around the nation and right here in the Nokomis Area of Minneapolis. I love sharing these local reports because they can give a home owner or buyer lots of information going into home ownership so they can know what to expect going into it and set reasonable expectations from the beginning. 

The decline in new listings is the first thing that really stands out. There were 61 homes listed for sale in January 2021 and only 43 new listings came on this year. Something has to give somewhere, let's hope the strangle hold loosens so that First time home buyers can get that shot at home ownership.  

The good news that I see is that sales prices have only ticked up marginally in the last year, a whole host of factors can play a role in that, but in this case I see the Hold as a good sign, despite low inventory, buyers are still "Choosing to Buy" and this effect is keeping the increase in sales price from happening out of proportion. 

If you're on the fence about selling in the next 3-5 years I recommend talking to a trusted advisor like myself about what strategies to employ now and over time so you are ready to go when it is time to "Sell." If you're debating selling in the next 12 months or even now, I recommend setting up an Agent Preview with a trusted advisor IMMEDIATELY. 

The agent preview is easy to book and takes less than an hour to complete and at the conclusion you should have a really good Idea on what to expect and the potential sales price. If you are interested in a cash offer, we can also help you there as I am an Express Offers Certified Agent and there may be a cash buyer looking for your house as you read this. 

Minneapolis does require an inspection and compliance with the city to issue an occupancy certificate. For home-owners in the area longer than 15-20 years we recommend you get an Inspection done Immediately, they are good for a limited time-frame; but often a prior issue that really slows the process could have already been completed.

If you have any questions about this report, or would like to schedule an Agent Preview Feel free to call, text or email me your address and a good time! We will take care of the rest from there, Talk soon! 

Justin Campbell,

Check out a PDF version of the January 2022 Nokomis Real Estate Market Report  

Do you Live in the Nokomis area and or are you thinking of buying there? Be sure to sign up to get the latest Nokomis report right in your mailbox. Every Month we send out the latest Nokomis Real Estate Market Report and our comments so you have first hand historical knowledge about the area. 

Debating selling but not sure were to start? 

The 2022 winter sellers guide is here and is packed full of useful information on getting your home ready to sell this winter going into spring. The guide is help-full and breaks down the process in easy to manage chunks. We have a few formats available, so be sure to find the one that fits you best.