Rosemount homes

Rosemount, MN Real Estate Market Update – September 2008

Let’s talk about Rosemount and the real estate numbers for August. Rosemount is home of the Irish, their high school mascot! Rosemount is a great city on the outskirts of the Twin City Metro Area, but becoming closer and closer the more building they do around it! Rosemount and it’s surrounding area is still growing quite rapidly by building more houses and developing more land. However, Rosemount has kept up its small town atmosphere through these changes. Located about 25 minutes straight south of St. Paul, it makes it easy to get anywhere in the southern twin cities area pretty quickly!

First we’ll look at August of 2007 compared to the month of August in 2008. For the city of Rosemount, new listings put on the MLS were down by 10.5%. A total of 68 properties went onto the market vs. 76 that were put on last year. Closed sales decreased by 25.6%, with 32 closed sales in August of 2008. The average sales price went from $289,373 in 2007 to $261,525 in August of 2008, down 9.6%. The percent of original list price received at the time of sale went up just 0.6%, staying pretty consistent (going from 93.2% to 93.8%.) Average days on the market actually went down 35.4%, from 159 to 103 days! The overall active inventory level for single family homes in Rosemount is down 12.6%, from 151 to 132 listings. The townhome and condo inventory level is up 3.1%, with 99 properties on the market in August of 2008.

Next, we will look at January through August of 2007 compared to January through August of 2008. This year, there has been a 16.4% drop in new listings put onto the MLS in Rosemount. Closed sales are also down 8.9%, with 235 properties closing so far in 2008. The average sales price is down from $281,956 to $246,189, a whopping 12.7%! The percent of original list price received at the time of sale is down 2.2%, from 95.8% to 93.7%. This number seems to be pretty similar to most areas here in the Twin Cities. Average days on the market until sale went from 137 to 151 days, which is up 10.2%.

Closed sales this August compared to last August seems like a significant drop, but when the whole year is taken into account, it hasn’t changed too much year over year. Average sales price is down a fair amount, but that just means this is a great time to buy in this area. Like you haven’t heard that enough, right ? There are also less houses going onto the market this year in Rosemount. Most likely people are holding onto their properties until the market prices pick up again. If you’re currently looking to buy in the south metro, Rosemount is a great option!