“What we’re seeing, though, is not quite enough [inventory] at a pace where it’s meeting the demand that’s there, frankly, and really under a month’s supply of inventory. That’s why we’re seeing the craziness that we’re seeing when listings become available and we’re getting into these multiple-offer situations.”
—Sharry Schmid, president, Edina Realty
Joe Karlisch and Homecoming Photography
Upscale living room
Property: Dayton New Construction
Square Footage: 4,651
Listing Price: $599,000
Selling Price: $625,000
Notable: Buyers made an offer sight unseen, then waived inspection.
Backstory: Edina Realty’s Jennifer Lundquist listed this Dayton home as a “Coming Soon” on a Wednesday. That night, they had a sight unseen offer: The buyers fell in love with photos of the home’s gourmet kitchen, spacious living room, and Jack and Jill bathrooms. They banked on the recent build and waived an inspection.
Spacecrafting
small rambler
Property: Bloomington Rambler
Square Footage: 1,650
Listing Price: $235,000 Selling Price: $270,000
Notable: 117 showings over a long weekend—during the polar vortex!
Backstory: Hundreds braved subzero temps to tour this three-bedroom corner rambler with a vintage 1950s kitchen and bath. Demand drove the price above that of a typical small Bloomington starter home. “We had offers coming in even before we were on market,” says RE/MAX’s Sarah Huffman—they ended up with a total of 26.
Spacecrafting
upscale home
Property: Lake Minnetonka Walkout
Square Footage: 4,114
Listing Price: $1,550,000 Selling Price: To be announced!
Notable: Thirteen offers total—four of them were $100,000 or more over asking.
Backstory: This sunny Orono lake home had 51 showings. Then, the offers came in. “People tried all kinds of crazy creative stuff,” says Edina Realty’s Jude Dugan Olson. The sale closes in May, so the selling price is still hush-hush, but Dugan Olson says the highest offer didn’t win the day.
Photo by Joe Karlisch/Homecoming Photography
spacious living area
Property: Bloomington Contemporary Bi-Level
Square Footage: 2,978
Listing Price: $400,000 Selling Price: To be announced!
Notable: Five straight days of morning-to-night showings and 32 offers.
Backstory: After RE/MAX’s Joey Oslund listed this modern split-entry home as a “Coming Soon” on MLS, a hundred nonoverlapping showings booked up overnight. “There were basically people there from seven in the morning until about 9:15, 9:30 every single night,” says Oslund. He came every day before sunrise to switch on the lights.
