Why Now Is the Best Time to Buy a Home in Western Wisconsin and the Twin Cities Metro Area

As 2024 comes to a close, the real estate market is offering opportunities we haven’t seen in years. Whether you’re buying or selling a home in Western Wisconsin or the Twin Cities metro area, the current trends in the market present a unique window of opportunity. Let’s explore why this could be the perfect time to make your move.

More Housing Inventory Equals More Choices for Buyers

For years, buyers have struggled with limited housing inventory, making it difficult to find the right home without fierce competition. That’s changing now. With 4.3 months of inventory on the market—the highest since 2019—buyers in our region have more options than they’ve seen in years. In areas like Hudson, WI, and suburbs like Woodbury or Lakeville, new listings are increasing, giving buyers a better chance to find properties that fit their needs without compromising on features.

 This increase in inventory provides flexibility. Whether you’re searching for a home office, a larger backyard, or proximity to schools, the current market offers the variety that many buyers have been waiting for.

Sellers Are Making Price Cuts

Increased housing inventory has shifted the balance of power slightly toward buyers. Many sellers are lowering their asking prices to stay competitive. This is great news for buyers in Western Wisconsin and the Twin Cities metro area, where the median home price has begun to stabilize after years of sharp increases. Nearly 19% of homes on the market have seen price reductions, and savvy buyers can even negotiate for additional perks like seller-paid closing costs, repairs, or rate buy-downs.

For sellers, this doesn’t mean the market has turned against you. It simply means pricing your home strategically and working with an experienced real estate professional is more important than ever. Well-prepared homes in desirable locations are still selling quickly, often with strong offers.

Homes Are Spending More Time on the Market

The pace of the market has slowed compared to the frenzied years of 2020–2022, when homes often sold within days—or even hours—of being listed. Today, homes are spending an average of 58 days on the market, the slowest October pace since 2019.

 This slower pace benefits both buyers and sellers. Buyers have more time to evaluate their options, schedule inspections, and make thoughtful decisions. Sellers, meanwhile, can take advantage of this period to work with their agents to showcase their homes to serious buyers who are ready to make a move.

How This Impacts Western Wisconsin and Twin Cities Buyers and Sellers

In markets like Hudson, WI, and cities throughout the Twin Cities metro area, these national trends are mirrored locally. For buyers, this means an improved selection of homes across diverse neighborhoods—from riverfront properties in Hudson to charming suburban homes in Woodbury and vibrant city living in Minneapolis or St. Paul.

 For sellers, it’s an opportunity to attract motivated buyers who are finally seeing the market work in their favor. By pricing your home competitively and ensuring it’s in top showing condition, you can still achieve a successful sale while navigating a more balanced market.

Why You Should Act Now

Experts believe we’re on the brink of a buyer’s market, but the current conditions already favor buyers in ways we haven’t seen in years. Waiting too long could mean missing out on these favorable trends, as housing stock fluctuates and demand could rebound heading into the spring market. If you’ve been considering buying or selling in Western Wisconsin or the Twin Cities metro area, now is the time to take action.

Let’s Make Your Move a Success

At The Johnson Group with Coldwell Banker Realty, we understand the nuances of the local market and are here to guide you every step of the way. Whether you’re looking to find your dream home or sell your current one, we have the expertise and resources to help you succeed.

Contact us today at www.johnsonhomegroup.com or give us a call to start planning your next move. With the market shifting in your favor, this could be the perfect time to turn your real estate goals into reality!

Read the full article from Realtor Magazine here:  https://www.realtor.com/news/trends/best-time-for-buyers-5-years/