House Prices Rising In MN Despite COVID-19
Just like everything else, the real estate market is being impacted by the Coronavirus.
According to Bring Me the New, house prices are skyrocketing in the state despite the high levels of unemployment. The median price for houses last month was $275,000, which was a 9.4 percent increase from last year from a report from Minnesota Realtors. Sellers got 98.8 percent of their original asking price and the average days on the market dropped by 12.7 percent to only 48 days.
One of the big changes that have happened is the way houses have been shown. During the "Stay at Home" order, many realtors had to switch to an online format to do virtual tours of houses. There is two sides to this as well, some people may have some issues when trying to sell, but those who are looking to buy may luck out with a great deal on a house and a low interest rate.