Hot new listing in Fern Hill (never mind the subzero temperature).

Just Listed: 2905 Princeton Ave. South in Fern Hill

You might think a high(!) temperature today of 2° — never mind the windchill — would have a, umm . . . chilling effect on the Twin Cities housing market.🙂


As of late this afternoon, newly-listed 2905 Princeton Avenue South in St. Louis Park’s Fern Hill neighborhood had more than 50 — count ’em, 50(!) showings.

That no doubt reflects pent-up demand, given that the home debuted on MLS almost 3 weeks ago (Jan. 19) as “Coming Soon.”

My guess: a large chunk of today’s showings were requested before the home switched to “Active” very early today (**at 12:15 a.m., to be exact).

So . . . What’s it Worth?”

What comes next for the 2 BR/2 Bath 1 1/2 story home?

Offers — and likely lots of them.

Which begs question #2: What’s it worth?

Before the home came on the market, you’d estimate its value by analyzing three, similar 1 1/2 story homes that have sold recently, and that are located nearby (or as close as you can find); then testing that price range against competing, “Active” homes.

Realtors call the product of that compare-and-contrast exercise a “Comparative Market Analysis,” or just CMA.

Hurry Up and Wait

What is the house worth now?

Given the showing frenzy, more — likely much more — than the $295,900 asking price.

Or if you prefer, “$1 more than the next highest bidder is willing to pay.”

But first, prospective suitors will have to cool their heels: according to Agent Remarks on MLS, “offers will be reviewed Wednesday evening after 5 p.m.”

See also, ““Coming Soon!” on MLS (New Acronym: “CSN”)“; and “Winter Humor: Minnesota vs. Tampa Bay (& Elsewhere).”

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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