Shrinking Twin Cities Housing Inventory
It’s been awhile since I tooled around my old, Southwest Minneapolis stomping grounds.
And, prior to the election, it seemed like every other front yard had one big sign or another in it.
But, with those all gone, and the trees and yards pre-Winter bare, I was struck by how few “For Sale” signs I saw on Xerxes Ave. South today.
Specifically, on the stretch between 50th and 56th — where it’s not unusual to see 6-8 homes on the market simultaneously — I counted exactly . . . one.
Yet one more, umm . . . sign that the market’s transitioning from a Buyer’s market to a Seller’s market, with Spring (?) price increases on the way.
P.S.: The roughly two-mile stretch of Xerxes between Lake Calhoun and Southdale is a surprisingly good proxy for the broader Twin Cities housing market.
Housing there runs the gamut from “starter” rentals to million dollar luxury homes, and spans several contrasting neighborhoods (Minneapolis’ Linden Hills, Fulton, and Armatage, as well as Edina’s South Harriet Park).
