Bidding wars making a comeback in Twin Cities housing market


Even though the median sale price for a home in the Twin Cities has climbed more than 13 percent over the past year, real estate experts aren't ready to call it a bubble again, the Pioneer Press reports.

Regardless, prices are on their way up and it is becoming a seller's market, but the housing bust left prices with plenty of head room.

Still, you can forget making low ball offers in certain neighborhoods. The newspaper notes bidding wars are becoming much more common, especially on almost any home priced below $200,000.

"The last time the market heated up like this was the late '90s," Daniel Lindgren, president of the Minnesota Mortgage Association, told the newspaper.

The Star Tribune reported the median sale price across Minnesota climbed 12 percent to $165,000 in April, according to the Minnesota Association of Realtors. Sales increased 0.3 percent compared with last year.

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