This past week, I found myself walking land with buyers, the kind of crisp November day where the golden sunlight still lingers a bit longer than you'd expect. It’s the time of year where we savor these last moments of warmth before snow flurries begin their yearly claim on our weekends. And like the weather, our Stillwater real estate market showed subtle signs of seasonal shift.
The energy in the market has balanced out, with inventory holding at 45 single-family homes—just enough to maintain a strong seller's market, but not enough to overlook the signs of cautious movement. This week, the Market Action Index ticked down slightly to 46, a modest slide from last month's 47, but still a healthy number favoring sellers.
What’s holding steady? The median list price sits at $750,000, and the average home is spending about 77 days on the market—though half of them are moving within 49 days. Meanwhile, price reductions are showing up in over a third of active listings, indicating that sellers are adjusting to meet buyers where they are.
Zooming out across the Twin Cities, 73 residential offers from November 1–14 paint a broader picture:
- 21% of buyers waived inspections—still aggressive.
- Only 14% were cash offers, and conventional financing dropped to 75%.
- About 30% of sellers helped with closing costs, and 5% of deals fell through entirely.
- Appraisal gap coverage? Only 3% of financed offers included it—an eyebrow-raiser from the summer’s frenzy.
All this tells me we’re not in a slowdown, but rather a recalibration. Buyers are still out there. They're just more methodical, more intentional, and more selective—especially as holidays approach.
What this means for you—whether you're selling or watching—is that preparation, pricing, and presentation matter more than ever. We're not chasing heat; we're navigating rhythm. And that’s where strategic representation makes the difference.
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About Richard
Richard McDonough is a top-producing real estate broker in Stillwater & Wasington County Minnesota reaching into Western Wisconsin, specializing in luxury homes, waterfront properties, and distinctive estates throughout the St. Croix Valley With more than 33 years of experience, Richard has built a reputation for integrity, innovation, and results, making him one of the most trusted and recognized Realtors in the region.
As a fourth-generation Stillwater resident, Richard combines deep local roots with global reach through his affiliation with Lakes Sotheby’s International Realty. His expertise spans the area’s most sought-after communities — from Stillwater and Lake Elmo to Woodbury, Afton, Marine on St. Croix, Mahtomedi, Grant, and Dellwood — along with select Wisconsin river towns such as Hudson and Prescott.
Richard is known for delivering a “Luxury Plus” marketing approach that goes beyond traditional real estate services. Every listing receives a personalized strategy with professional staging, high-end photography, drone video tours, and targeted digital campaigns across Google, YouTube, Facebook, and Instagram. His ability to tell each home’s unique story consistently attracts qualified buyers and maximizes value for sellers.
In addition to his track record of selling some of the St. Croix Valley’s most prestigious properties, Richard is deeply engaged in his community. He serves on local nonprofit boards, volunteers for events like Home Town for the Holidays, and is dedicated to supporting the Stillwater area’s vibrancy.
Clients describe Richard as experienced, resourceful, and innovative — a true advocate who handles every detail of the buying and selling process with professionalism and care. Whether helping first-time buyers, seasoned investors, or high-net-worth individuals, Richard’s mission is to make every real estate experience seamless, rewarding, and successful.
