What is Happening in the Housing Market this Summer

By Chad & Sara Huebener

Chad and Sara are Executive Circle sales associates at Edina Realty and are committed to serving clients in a manner that is ethical and respects confidentiality without giving up the aggressiveness and tenacity it takes to get homes sold.

Now that we’re into mid to late June, we’re starting to see the trends that summer always brings. School is out, families are adjusting to summer schedules, and graduations stretch on for weeks.

With all of that, we tend to see a bit of a lull in activity. There’s still plenty happening in the market, it is summer after all, but the pace has clearly cooled compared to what we saw in April and May.

Inventory is telling an interesting story right now. The clearest thing we’ve noticed over the last 30 days is that single-family inventory in Scott County has jumped considerably. Townhome inventory across Scott County, Savage, and Prior Lake has held pretty steady since last month, but single-family listings have climbed quite a bit.

A lot of that comes down to a slight rise in interest rates paired with families simply being busy as summer kicks off. It’s a seasonal shift more than anything, and it will eventually start to turn.

If you’re selling, the keyword is patience. Showings may be fewer and farther between for a stretch, and that’s normal for this time of year. One thing we’ve noticed in the last 30 days is fewer weekend showings and more weekday showings. That tracks with everything happening around us right now: people are heading to the cabin, there are baseball tournaments, and there are a dozen other summer activities pulling weekends in different directions.

Things will start settling down as the season finds its footing. For sellers, this isn’t a signal to panic, it’s a signal to stay the course.

If you’re buying, time is on your side, but so is preparation. We’re working with a lot of buyers right now, and there aren’t many new listings coming on, fewer than what buyers typically see this time of year. That will change as the season moves along. In the meantime, buyers are taking their time, and that’s a smart instinct.

Affordability is a real challenge for many buyers, so they’re being deliberate, making sure they make the right decision and choose a property that genuinely fits. Patience here works in your favor.

The name of the game in this early-summer market is patience on both sides of the transaction. The pace will pick back up, inventory will keep shifting, and the buyers and sellers who stay steady and prepared are the ones positioned to move when the moment is right.

If we can answer any questions about what you’re seeing in your own corner of the market, let us know. Call or text us at 952-212-3597, email us at chad@chadandsara.com, or visit edinarealty.com. We’re always glad to help you make sense of the season and figure out your best next step.