The Honest Answer: It Depends on Your Situation
Every real estate website wants you to sell right now. We're going to be more honest than that. Whether you should sell your Twin Cities home depends on a combination of market conditions, your personal financial situation, and your life circumstances. Here's a framework for thinking it through.
Factor 1: Your Equity Position
The single most important factor is how much equity you've built. Twin Cities home values have appreciated significantly — most homeowners who purchased before 2022 have seen 15-30% equity growth. Check your current estimated value against your outstanding mortgage to understand your net position.
If selling nets you enough to cover your next housing move (down payment, closing costs, moving expenses) plus a comfortable buffer, the financial math works.
Factor 2: Where Will You Go?
This is the question sellers often overlook. In a strong market, you'll likely sell quickly — but you'll also be buying in that same strong market. Consider: Are you moving to a less competitive market? Downsizing to a lower price point? Renting temporarily? Relocating out of state? Your "next step" plan matters as much as the sale itself.
Factor 3: Current Market Conditions
The Twin Cities market currently shows strong fundamentals for sellers across most suburbs. Average days on market remain below 20 in most communities we track, year-over-year appreciation continues in the 3-6% range, and buyer competition remains active. That said, markets are local — conditions in Plymouth (12 days on market) differ from conditions in Chaska (19 days).
Factor 4: The Cost of Waiting
There's a real cost to waiting that sellers often underestimate. If your home is appreciating at 4% per year but mortgage rates rise, your potential buyer pool shrinks. If market conditions shift from a seller's market to balanced, you lose negotiating leverage. Timing the market perfectly is impossible — but recognizing favorable conditions is valuable.
Factor 5: Personal Readiness
The best market in the world doesn't matter if you're not personally ready. Major life transitions — job changes, family changes, retirement — are legitimate reasons to sell regardless of market timing. Conversely, if your only motivation is "prices are high," make sure you have a clear plan for what comes next.
A Simple Decision Framework
Answer honestly:
- Do you have a clear reason to move? (Not just "the market is good")
- Do you have positive equity sufficient for your next housing step?
- Have you researched your replacement housing costs?
- Is your home in sellable condition, or will repairs eat into your equity?
- Are you emotionally ready for the process?
If you answered yes to most of these, the current Twin Cities market provides a favorable backdrop for your move. If several are no, it's worth taking more time to prepare.