As we navigate the deep freeze this week in Stillwater, MN, with temperatures plunging to a frigid -15°F overnight , the real estate market remains active despite the weather. Here’s a snapshot of the latest trends and how they compare to last week’s activity.
Current Market Snapshot
$667,500
Median List Price
39 homes
Inventory
43
Market Action Index
Key Market Metrics
Median List Price: This week’s median list price holds steady at $667,500, reflecting ongoing stability in pricing. Compared to last week, the figure has not seen significant fluctuations, which suggests sellers are maintaining confidence in their pricing strategies.
Inventory: Inventory has dipped to 39 homes, down from last week, signaling fewer options for buyers but maintaining a slight seller's advantage. The continued low inventory reinforces competition among buyers, even in these icy conditions.
Market Action Index (MAI): The MAI remains at 43, unchanged from last week, firmly placing us in a seller’s market. This indicates a balance where inventory levels and sales rates are steady, with no immediate shifts expected unless we see a significant increase in buyer activity.
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Price Trends Across Market Segments
While the higher-priced segments remain resilient, the lower two quartiles have shown some softening in recent weeks. Notably:
- Top Quartile: Prices remain strong, with properties above $1 million maintaining robust demand.
- Bottom Quartiles: Homes priced under $500,000 continue to experience slight downward pressure, though this could be temporary as spring approaches.
Days on Market
The median days on market (DOM) is 70 days, with the average at 131 days, consistent with last week. Homes in the higher price ranges tend to linger longer on the market, a common trend, especially during the winter months.
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Weather’s Impact on the Market
This week’s extreme cold may have slowed open house activity, but savvy buyers are braving the chill to take advantage of the current inventory. For sellers, this can be an opportune moment to showcase the warmth and coziness of their homes, creating an inviting atmosphere for potential buyers who are already motivated.
What to Watch For
The Stillwater market is expected to remain steady in the coming weeks, with the potential for activity to pick up as spring nears. Keep an eye on inventory levels and the MAI for any early indicators of market shifts.
Whether you’re looking to buy, sell, or simply stay informed, I’m here to provide insights tailored to your goals. Don’t let the cold deter you—this season can be an excellent time to make your next move.
Stay warm, and feel free to reach out with any real estate questions or needs!
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