July 2, 2025: If you are a current Client of mine, you've held this information I've included within this quick newsletter for almost a month now. But for many others, this news may come as a surprise, especially for those whom have not placed their home's on the Real Estate Market, but plan to do so…
Officially published June 16th in the NY Post, "Sellers are flooding the home market while buyers sit on their hands… creating a historic imbalance".
Our reports in April seen the U.S. housing market obtaining a flash inventory of over 500,000+ more home sellers than buyers, marking a historic imbalance based on data going back to 2013 nypost.comfacebook.com+15wsj.com+15wsj.com+15.
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Cites analysis by Redfin, showing a record gap with about 1.9 million homes listed vs. roughly 1.5 million buyers — a difference of around 490,000 listings.
The Wall Street Journal, also reporting the same Market Report as we brought you previously with these Key takeaways:
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Supply is finally climbing as pandemic-era homeowners with low mortgage rates decide to sell.
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Demand remains muted due to high prices, elevated mortgage rates (~6.7%), and economic uncertainty wsj.com+2wsj.com+2businesswire.com+2wsj.com+2redfin.com+2businesswire.com+2.
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This imbalance has shifted the market in favor of buyers — many sellers are resorting to price reductions or concessions wsj.com+15wsj.com+15reddit.com+15.
Your Thinking, 'OK, but how does this play our for Minnesota right now?'
For Minnesota, Minneapolis and St. Paul
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Listings are growing faster than buyer demand;
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MN Home Sellers are seeing the need to be absolutely on their BEST Behavior = Have your home tuned-up, and don't leave your Laundry List for your next Buyers to fix: Paint, trend resale colors including white, off-white, grays or even steel-blues. Replace anything looking worn, especially High $ items that will cause your Buyer to turn away: E.g.: Old, worn carpet or flooring, fogged windows (re-glazing costs $200 per repair), holes in walls et al. Make sure everything is working order, nothing more…
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Million Dollar Luxury Homes are selling well between $1M to $2.5M; But home sales between $500k to $900k are unfortunately being met with in-affordability.
For Arizona, Phoenix and Scottsdale
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Lots of inventory is on the market with many VRBO's now on sale. Many were purchased during the pandemic, but have sat less than 8% full monthly.
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SE and SW of the 17, 10 and 101 Loop are met with in-affordability, but still selling but prepare for longer DOM (Days On Market).
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However, properties in Chandler, Goodyear, and even SanTan Valley to Buckeye are very affordable. A new home with pool can be obtained starting in the low $400k's.
*FYI: Goodyear, SW of Phoenix by ~15 minutes was just rated one of the top places to Live, May 2025.
Taste remains different between Sellers and Buyers. So stay away from remodeling that will bring you more debt than ROI. Replacing Formica countertops with stone might seem like a 'MUST DO' to you, but to your buyers, they usually will not like the color of the stone, the brand or they have different ideas all together about that kitchen; plan to renovate themselves. So if you didn't understand the above, stay away from that 'slippery slope', full remodel. It will cost you. Reach out if you want me to take a look as you ready your property for sale (763.843.2905), it's free and I'll steer you to success!
"THE REAL ESTATE MARKET ISN'T DOING ANYONE FAVORS RIGHT NOW… 500,000 more home sellers than buyers. That's according to the NYP and WSJ." - Zane Petersen
In keeping this Real Estate Market Report update short for you, know that we have been monitoring homes and land we have on the market in Albertville, Lake Vermilion, Medina and St. Michael. Even Luxury Homes in Arizona and on the South Padre Island of Texas.
This year is VERY different year than last, where I SOLD homes in a few hours, to no more than 5 days. But this year, Marketing is the MAJOR KEY to success, which will take about 95% of other agents out of the equation because they simply won't do it.
Marketed the RIGHT way, will still require more patience from you when SELLING right now. You want to steer clear of trying to Live off the 'Private Sale' idea as it will likely cost you another year before you sell, and you want to ensure EVERYONE is seeing your home as 'Available', including those relocated from outside your home selling area, and specifically including Marketing out of state to capture those relocating here as well!
IN SUMMARY: Have your home tuned-up, don't shortcut here, don't make your buyers complete your Honey-Do List. It offends them and will likely cause them to turn and look at your tuned-up neighbors home for sale instead. Again: fill holes and Paint, replace/recondition anything looking worn, and ensure everything working. …but nothing more. This remains the BEST way to SELL quickly, especially in this Market! Believe me, buyers have multiple choices right now and their silence can cost you time and money!
ABOUT ME: Zane Petersen - I have been moving thousands of Clients to success for the past 25 years, both Nationally and internationally as well. I Live in both in the West Metro of Minneapolis/St. Paul, but also have a Home in the Phoenix/Scottsdale area.
I am a Marketing expert with multiple coaches, including Ryan Serhant who I've known for the past ~3 years since we first met in Miami. My international peer group (From all different Brokerage Brands) meets daily, up to 15 times per week via Zoom and through understanding of all changes in our industry that directly affects how you Buy and Sell your home, I stay on the cutting edge of real estate market changes for you. In fact, I know what's changing before your local market does.
So whether you are looking in Minnesota or Arizona, know that I will be available physically by your side to help you procure your #NextPerfectHome or even your Next #DreamHome . With Zane Petersen Real Estate, you will NEVER be turned over to a Team to handle, I remain by your side from beginning, to SUCCESSFUL Closing.
I am happy to help you be a success starting NOW, reach out to me right NOW 763.843.2905.
Zane Petersen (CLHMS | LPS | PMP) - Zane Petersen Real Estate Lake Minntonka | STMA | Phoenix/Scottsdale 763.843.2905 | [email protected] | www.zanepetersen.com
