ANDOVER, Minn. - Our recent warm-up is heating up the Twin Cities' real estate market.
The traditional spring sales season started a few weeks later than normal due to the long, cold winter.
"We've had properties that have been on the market for 50, 60, even 90 days, and all of a sudden this past week and a half they've gotten multiple offers," Michael Hunstad, president of the Saint Paul Area Association of Realtors said.
Proof of point, Hunstad said a brand new home in Andover, featured in the Parade of Homes, went on the market five weeks ago but only started getting offers, multiple offers, this past week. It sold, but not to Mark Ketchum who was still checking it out on Saturday.
"Median sales price went up by 14 percent," he explained. "So with fewer distressed properties on the market it's been able to help the traditional sellers that may have at one point been upside down in their home to be able to actually put their house on the market for a profit."