Rochester realtor weighs on Minnesota housing market
Published: Feb. 17, 2023 at 3:21 PM CST|Updated: Feb. 17, 2023 at 4:53 PM CST
ROCHESTER, Minn. (KTTC) – Realtor Robin Wolfram joined Midwest Access Friday to answer some questions and give some insight into the current Minnesota housing market.
Wolfram is a former KTTC anchor turned realtor and serves the Rochester area. She gave an idea of what the market looks like right now.
January 2022 - 2023
- Closed sales down 32.3%
- Median sales price is $240K
- New listings down from 335 to 308
- Pending sales down from 379 to 303
- Closed sales down from 347 to 235
- Days on market 47 to 48
- Inventory is up from 503 - 620
Wolfram said we can expect lower inflation, increased incomes, tight inventory and increased rental prices in the coming months.
Some advice Wolfram would give buyers right now include:
- Shop Loan Products - It won’t ding your credit
- Marry the house date the rate
- Be patient and open minded
Some advice Wolfram would give seller’s right now include:
- Negotiating skills - No $ left on the table
- Communication
- Surprises
- Marketing
- Agent for life
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