The Minneapolis residential real estate market in 2023 is shifting towards a buyer's market, with an increasing number of unsold homes. Factors such as rising interest rates, global changes (e.g., war, inflation, employment uncertainty), and longer listing durations contribute to this trend. In a buyer's market, there is an excess of inventory, typically over six months' worth based on closed sales. In contrast, a seller's market has less than three months' worth of inventory, while a neutral or balanced market ranges from three to six months.
Here are the top ten reasons why homes fail to sell and how to address them for a successful sale:
1) Improve Photo Order: To captivate potential buyers in today's era of decreasing attention spans, it is of…
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