An Update on Our Prior Lake Market

Minnesota Real Estate Podcast With Chad and Sara Huebener

Here’s a really quick end-of-summer/early fall market update. We’re here with an end-of-summer or early-fall market update. First, let’s talk about what we’d expect a normal market to look like for comparison. We’ve seen a bit of this in 2021 during the summer. Right after school ended, activity slowed down a bit before picking back up towards June and July. Once it gets close to the start of school, it slows down again. All of this is normally what we see around this time. It’s been kinda nice after the non-stop abnormal market of 2020. “ It seems like the market is normalizing a bit.” If the slowdown in June surprises you, remember that this is the first real summer we’ve had since COVID. People were taking some time to settle into normal routines and take vacations. You might be wondering how this affects the pricing. Pricing has been really interesting with the increase in multiple offers in spring. It has caused an increase in housing prices going into the early fall, but the multiple offers have dopped off a bit. Instead of 15 or 20, you might see only two or three offers. It seems like the market is normalizing a bit. In the next few videos, we’ll talk about how you can get ready for what’s coming in our market this winter and the following spring. If you ever have any real estate questions, please give us a call or send us an email. We’d love to help you with whatever you need.