Minnesota Real Estate Blog
by Ryan O'Neill, Co-Host of The Minnesota Real Estate Talk Show
Albertville, MN Homes for Sale
Currently looking at the housing market for December 2009 in Albertville, Wright County, Minnesota, we saw a total of 13 new homes listed. This brings us down a single listing compared to last year's 14 active properties for sale in December of 2008. This drop is a negative 7.1% change, but there were still a total of six sales closed this year as in 2008 as well. Many of these were in fact short sales in mn. There was a positive 8.2% increase, with the median sales price coming in at $155,150 over last years $143,450. The average sales price did show a small dip of a negative 2.3%, with last year's price of $161,950 over this year's, $158,300. There was a positive 2.5% climb on percentages of original listing prices received at the close of sale, with 90.8% this year to last year's 88.6%. As far as the number of days the houses were listed on the open market, we saw no increase or decrease from last years average of 109 days. There has been an overall steep decline in the number of single-family detached units for sale this year in Albertville, with only 39 in comparison to last years 71 units. As for townhouse-condo units, the numbers crunch a much closer 25 to last year's 24. With this new December data, we are seeing an overall trend of more market activity, as far as closes, but with less new units being introduced, and less appreciation than in the prior year. Year to date, in 2008, we saw 271 new listings opposed to last years 209, bringing a negative 22.9% decrease. We did however, see more closed sales this year with 128 closed opposed to last years 115, giving a positive 11.3% increase. Median and average sales took a hit this year with median sales price dropping to $169,000 from last years $203,500, a difference of a negative 17.0%. There was also an average sales price decrease of negative 14.6%, with last year rounding out to $207,170, and then dropping this year to $176,924. On another positive note, the percentage of the original list price received at sale rose this year by a positive 2.0%, with 92.9% this year to last years 91.1%. Lastly, we saw a positive change in the days on market section of the mn real estate market. The average days houses were on the market last year was 8.8% more than this year, with homes for sale averaging only 144 days on the market this year compared to last year's 158. This has been an update of both December 2009 to December 2008, as well as yearly comparisons for the real estate market in Albertville, MN Labels: Albertille home update, Albertville MN homes for sale, Albertville real estate
Coon Rapids MN Real Estate Market Update
 Labeled as a "Best Place to Live" in 2006 by CNNMoney.com, Coon Rapids is a northern suburb of Minneapolis and is the largest city in Anoka county. To better understand this housing market, we're looking at housing figures for Coon Rapids from December 2008 to data collected in December 2009. To keep things in perspective we'll also examine year-to-date information for the "metropolitan area's gateway to the northern part of the state." In December 2008, the single-family detached inventory for Coon Rapids was 280 homes on market, 90 being new listings. In December 2009, the numbers of homes on the market dropped 27.9% to 202 and of those only 76 were new listings. For new listings, that's a 15.6% decline over the previous year. This change follows the year-to-date inclination as 14.9% fewer new listings were added to the market: 1,636 in 2008 down to 1,393 in 2009. The closed sales for December 2009 and the year-to-date were positive. Closed sales in December '08 and at the year-end of 2008, the numbers were 48 and 674 respectively. Closed sales for December '09 rose by one to 49, but increased by 28.9% with the year-to-date at 869 closings! Average sales prices between December 2008 and December 2009 rose 13.9% from $143,003 to $162,878. The average sales price for the year-to-date, however, decreased 16.7% from $169,832 to $141,471. While its not a huge increase, it is worth noting that the percent of sellers receiving the original list price was up 3.6% from December 2008's 90.6% to 93.9%. The overall year-to-date percent of sellers in Coon Rapids receiving the original list price was up as well, albeit slightly by 1.3% from 91.9% to close the year off at 93.1%. Days on the market before a sellers home sold fell 21.6% from 162 days in December 2008 to 127 days, more than the year-to-date change which declined 9.3% from 146 days to 132 days in 2009. If you're a seller that's worried about whether your home will sell or not, the minnesota real estate team offers one of the only guaranteed sale programs in the state. So start packing those bags!  Lastly, according to the city's website, Coon Rapids is comprised of 80% owners and 20% renters. If you're an investor looking to add to your mn investment property portfolio, the Minnesota Real Estate Team can help you! Labels: Coon Rapids MN, Market Update, MN Investment Properties
Maplewood MN Real Estate
 Maplewood is an eastern suburb in the Twin Cities metropolitan area located 9 miles from downtown St. Paul. At the top of the list of major employers in the area, the world headquarters and main campus for 3M Corporation are located in Maplewood. Housing figures for Maplewood from December 2008 to December 2009 were recently released so we will be examining what is happening in this market and we will also compare year-to-date information. The number of single-family homes in December 2008 was 172 homes on market, 44 being new listings. December 2009 saw the total number of homes on the market drop 24.4% to 130. Similarly, townhouse and condo inventories saw a 19.4% decrease between December 2008's 98 units and December 2009's 79 units. New market listings in December '09 were down 31.8% to 30 over the previous year. This change for new market listings follows the year-to-date trend: 819 in 2008 down to 802 in 2009. In addition to the nation's current economic climate, traditionally new listings during Minnesota's "favorite season" (i.e., winter) are less than any other time of the season. Closed sales for December 2009 were down, yet the year-to-date saw an increase. In December '08 and year-end of 2008, the numbers of closed sales were 25 and 371 respectively. Closed sales for December '09 fell 8% to 23 with the year-to-date at 448 closings, a positive 20.8% change over the previous year. The average sales price for December 2008 to December 2009 slipped slightly from $176,718 in 2008 to $168,387 in 2009. The average sales price for the year-to-date decreased 15% from $190,000 to $162,000 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price increased 7.1% from December 2008's 88.6% to 94.9% in 2009. For the year-to-date in 2009, 92.9% percent of sellers in Maplewood received the original listing price (not accounting for previous listing prices), which rose slightly by less than one-percent. The average number of days a home sat on the market fell by 16.6% from 179 days in December 2008 to 149 days in December 2009, more than the year-to-date change, which slipped 3.2% to 145 days in 2009. Sellers are dropping sales prices or accepting lower offers to move homes, continuing to show that this area is still a buyers market. Don't know if home ownership is right for you? The Minnesota Real Estate Team can help you with their free minnesota first time home buyer class. Or if you're curious about the real estate market and have a question tune into KTLK 100.3FM on Saturday mornings from 11AM to NOON for the Minnesota Real Estate Show. Labels: Maplewood Market Update, Minnesota Real Estate Show, MN First Time Homebuyers
Blaine MN Real Estate
 Blaine is an outer-ring suburb approximately 25 minutes north of Minneapolis. In 2008 CNNMoney.com gave Blaine a rank of 93 as a "Best Place to Live" on their top 100. Today we're looking at housing figures for Blaine from December 2008 to December 2009. We'll also look at year-to-date information for Blaine.  The single-family detached inventory for Blaine in December 2008 was 338 homes on market, 88 being new listings. December 2009 saw the total number of homes on the market drop 25.1% to 253. Similarly, townhouse and condo inventories saw a 21.9% decrease between December 2008's 155 units and December 2009's 121 units. The new market listings for December '09 were up 19.3% to 105 over the previous year. The change for new market listings didn't follow the year-to-date trend as slightly less were added to the market: 1,716 in 2008 down to 1,612 in 2009. Closed sales for December 2009 were down over the previous year, while the year-to-date saw an increase. In December '08 and at the year-end of 2008, the numbers of closed sales were 53 and 762 respectively. Closed sales for December '09 fell 26.4% to 39 with the year-to-date at 880 closings, a positive 15.5% change over the previous year. The average sales price for December 2008 to December 2009 remained relatively the same at $201,435 in 2008 to $201,452 in 2009. The average sales price for the year-to-date decreased 13.5% from $226,124 to $195,720 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price increased 11.9% from December 2008's 86.9% to 97.2% in 2009. For the year-to-date in 2009, 94% percent of sellers in Blaine received the original listing price, which rose slightly by two-percent. The average number of days a home sat on the market fell by 4.8% from 129 days in December 2008 to 123 days in December 2009, more than the year-to-date change, which slipped 2.1% to 126 days in 2009. As sales prices indicate, this area is a buyers market. If you're looking to purchase a home and don't know where to start, The Minnesota Real Estate Team can help you with their free seminar to help first time mn home buyers. Or if you're just curious about homes in the area, check out these Minnesota real estate properties. Special thanks to our friends at the Minneapolis Area Association of Realtors for providing these valuable statistics. Labels: Blaine Market Update, Blaine Real Estate, MN First Time Homebuyers
St. Louis Park MN Real Estate
  St. Louis Park, Minnesota, is a first-ring suburb directly west of Minneapolis. The city is bordered by Golden Valley in the north, Edina in the south, and Hopkins in the west. St. Louis Park is conveniently only minutes from downtown Minneapolis by bus or car. Today we're comparing housing market figures for St. Louis Park from November 2008 to data collected in November 2009. We'll also examine year-to-date information for St. Louis Park. In November 2008, the single-family detached inventory for St. Louis Park was 205 homes on market, 60 being new listings. In November 2009, the number of homes on the market dropped 11.7% to 181 and of those, 50 were new listings. The new listing difference amounts to a 16.7% decline over the previous year. This change does not follow the year-to-date trend as slightly more new listings were added to the market: 1,217 in 2008 up to 1,220 in 2009. The ratio of new listings to closed sales for November 2009 and the year-to-date is positive. For closed sales in November '08 and at the year-end of 2008, the numbers were 38 and 574 respectively. Closed sales for November '09 jumped 71.1% to 65 with the year-to-date at 637 closings, a positive 11% change over the previous year. The average sales price for November 2008 rose 1.9% from $231,193 to $235,499 in November 2009. The average sales price for the year-to-date decreased 8% from $249,207 to $229,217 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price rose 4.5% from November 2008's 89.2% to 93.2% in 2009. The overall year-to-date percent of sellers in St. Louis Park receiving the original list price dropped slightly by 0.7% from 94% in 2008 to 93.4% in 2009. The average number of days on the market before a home sold fell 34.8% from 169 days in November 2008 to 110 days in November 2009, less than the year-to-date change which rose 5.2% from 112 days in 2008 to 118 days in 2009. If you're looking to purchase a home and don't know where to start, The Minnesota Real Estate Team offers free classes to help mn first time home buyers. Or if you're an investor looking to start netting some positive cash flow, the mn investment property team can show you how! Whether you're a first time homebuyer or a seasoned investor, there are properties in St. Louis Park to meet the needs of you and your family. Special thanks to our friends at the Minneapolis Area Association of Realtors for providing these valuable statistics. Labels: MN First Time Homebuyers, MN Investment Properties, St Louis Park Market Update, St. Louis Park real estate
Bloomington, MN real estate
Bloomington is located south of Minneapolis and is bordered by Eden Prairie, Edina, Richfield, and Burnsville. First we're going to look at November of 2008 compared to the month of November in 2009. As of November 2009, there were 78 new listings put onto the market in Bloomington, down 17% from 94 listings last November. Closed sales are up 35.6% with 80 properties that closed this November 2009 compared to 59 last November 2008. The average sales price decreased 8.3%, going from $222,460 to $204,001. The percent of original list price received at the time of sale in Bloomington was 93.5% this November, an increase of 2.3% from last November. The current average days on the market until sale were 129 days compared to 126 days last November 2008, an increase of only 2.3%. The overall active inventory level for single family homes has decreased 19.6% to 258 homes compared to 321 homes in November 2008. The townhome and condo inventory level is down 5.8%, with 162 properties on the market in November of 2009. Now let's take a take a look at January through November of 2008 compared to January through November of 2009. New listings in Bloomington decreased 12.1%, going from 1,767 to 1,554 in 2009. Closed sales are up 3.7% with 841 closings in 2009. The average sales price is down 12.0% from $228,583 to $201,061. The percent of original list price received at the time of sale is down 0.5%, going from 93.7% to 93.2%. The average days on the market until sale increased 12.9% from 115 days in 2008 to 130 days in 2009. The numbers for Bloomington are a reflection of most areas in the current market. Listings are on the market a little longer and selling for less, however there are fewer listings on the market this year versus last. Considering there are approximately 12.06 houses per buyer currently available, the fewer listings on the market in one area the better! One other positive statistic I see is the inventory of townhome-condo units on the market, which is down 5.8% from last year. That's a good sign considering townhouses and condos are difficult to sell in the current market.
Minnesota First Time Home Buyers
Hello first time buyers!! Below is some information in regards to our outstanding free monthly seminar that we put on for all first time home buyers here in Minnesota. Whether you have questions regarding the $8000 tax credit that is available or maybe you want to learn more in regards to home buying tips.... At this monthly free class in Burnsville, our team, The Minnesota Real Estate Team really dives deep into any and all questions you may have regarding buying your first home. And we do so in a low pressure yet informative format. As a first time buyer, realize that there are so many great down payment assistance programs available in addition to some grants. At the monthly seminar, our first time home buying mortgage partner, Darcy McDonald, takes time to go over the "ins and outs" of some of these various programs. Darcy really specializes in financing and has come to understand all of various city, county, and state programs that are available. We also discuss some various buying tips, and why it does make sense to have a top real estate agent on you side to guide you through the buying process. For more information on these events, check out http://www.greatmn.com/ We have put together a website just for first time home buyers. Hope to see you at an upcoming seminar!
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