Golden Valley homes
Golden Valley, MN Real Estate Market Update - September 2008Golden Valley is home to several large parks and green spaces, public and private golf courses, excellent schools (public and private, including: Robbinsdale and Hopkins School Districts, Good Shepherd Catholic School, Perpich Center for Arts Education, and Breck School) and churches, and shopping is always nearby. Golden Valley is also close to downtown Minneapolis which is outstanding for commuters. There are several large employers including General Mills, Kare 11, Honeywell Intl, Bluestone Garden, UnitedHealth Group, and USFamily.net located within city limits. Homes currently for sale in Golden Valley range in price from $39,900 to $1,295,000, making it a very diverse community. Jesse Grumdahl on our team currently resides in Golden Valley and could help you get to know the area! Check out his website www.mnshortsale.com as well.
First we'll look at September of 2007 compared to the month of September in 2008. For the city of Golden Valley, new listings put on the MLS were down by 6.5%, with 43 properties going onto the market. Closed sales decreased by 21.1%, with 15 listings closing in August of 2008. The average sales price in August went down 10.9% from last August, going from $286,117 to $254,943. The average days on the market until sale increased by 11.2%, from 144 to 160 days! The percent of original list price received at the time of sale increased only 1.5%, going to 96.2%. The overall active inventory level for single family homes in Golden Valley is up 9.2%, from 119 to 130 listings in 2008. The townhome and condo inventory level is up 14.6%, from 41 to 47 properties on the market this September.
Next we look at January through September of 2007 compared to January through September of 2008. There has been a 1.6% drop in new listings put onto the MLS in Golden Valley. Closed sales are down 11.6%, with 160 properties closing in 2008 vs. 181 closings in 2007. The average sales price is down 5.1% from $340,547 to $323,150. The percent of original list price received at the time of sale is down 1.7%, from 95.2% to 93.5%. Average days on the market until sale are up 23.3%, going from 113 to 139 days.
The trends in Golden Valley aren't too different from other areas of the Twin Cities. The average sales price continues to fall but hopefully will bottom out soon and then begin to rise. Many predict we are nearing that time. Also days on the market until sale for new listings is currently 139 days in Golden Valley, so sellers should plan accordingly and price aggressively to sell fast!
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