Jesse Steed, REALTOR®

Here's a look at median sales prices the year after an election year. 

With home appreciation, it's better to buy today and experience the gains of appreciation rather than wait and experience the pains of appreciation.

Spring 2024 has been an active real estate market with prices climbing 2-3%. While it may seem that listings are few and far between, Northfield has had the same number of listings in the last 12 months as the previous 12 months - very consistent. For a full market recap for April, check out the Local Market Update report.

Building a new home brings many new possibilities, but first you need the land. It has been said that it's the only thing they're not making more of, except maybe in Hawaii. It's also so critical that the preamble to the Realtor Code of Ethics begins with "Under all is the land."

While house hunting, you will be extra aware of all sorts of real estate things. It is as if the real estate market will come alive for you. This phenomenon of “what you focus on expands” means that when you are actively engaged in something like buying a house your world will suddenly be full of things that were invisible to you previously.

I hear buyers say all the time that they don't want to pay for more house than they need. As we walk through the new listings looking for their dream home, buyers are evaluating the space and sizing up how useful it is to their lifestyle. Having the right amount of living space and storage in the right arrangement is paramount as buyers crunch the numbers on how far they can justify stretching their budget.

Beautiful home with multiple outbuildings on 35 acres on private road in Northfield School District. Enjoy the privacy of country living within minutes of historic Northfield. This well-maintained home boasts nearly 4000 square feet of finished living space including 5 bedrooms and 6 bathrooms.

Everyone is curious about how the real estate market is responding to higher interest rates these days. With rates back to the norms of the early 2000s, monthly payments for new mortgages are certainly higher than they would have been just a year ago, so will housing prices fall?

I hear a lot about bike trails at Rotary Club meetings and City Commission meetings. Planning for all forms of accessibility is a crucial part of the city's development plan, though it's not without some controversy. Attend a City Council meeting and you may here a variety of perspectives on the bike lanes, trail development, and other aspects of making the city accessible to people.

More than a decade ago, which seems like several lifetimes in the technology world, Walk Score was added to Edina Realty listings online. What is a Walk Score, you ask? 

A recent report by the Mortgage Bankers Association showed a slight decline in the national median mortgage payment, down to $1844. Housing affordability is constantly on in the news and on the minds of many, especially folks I talk to about qualifying for a home purchase. The recent rise in interest rates has resulted in higher costs for buyers looking to make a move, but recent market reports have yet to show a price drop in Northfield.