The Twin Cities luxury home market has definitely been slow. Some areas have been performing well but this article over on the Minneapolis Association of Realtors website definitely hits it point on.
A 33.5 month supply of active inventory on the market gives it an absorption rate that seems like it will never come back down. Slow demand, prime ARM loans resetting, new construction homes going bank owned all play into effect.
Just like any other listing out there, sellers in the upper bracket price points are ready to make a deal.
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