Roseville houses for sale

Roseville, MN Real Estate Market Update – November 2008

Roseville is a great city just north of Minneapolis/St. Paul that has many movie theaters, restaurants, bars, golf courses, and shopping to enjoy. It’s also known for its safe neighborhoods, quality schools and parks, and its excellent business climate. Interestingly enough, Roseville was the location of the first Target ever built, the first Best Buy store ever built, the first Barnes & Noble bookstore outside of New York City, and the first McDonald’s built in the state of Minnesota! Wow!! It’s also headquarters to Old Dutch and The Minnesota State Lottery.

First we’ll look at September of 2007 compared to the month of September in 2008. In Roseville, 47 properties were put on the market this September, up 9.3% from 43 new listings last September. Closed sales are up 33.3%, with 28 listings closing in September of 2008. The average sales price went down 11.5% from last September, going from $260,253 to $230,291. The percent of original list price received at the time of sale in Roseville was only 89.9%, a decrease of 6.2% from September of 2007. Unfortunately, the average days on the market until sale increased 133.1% from 60 to 140 days! The overall active inventory level for single family homes in Roseville stayed exactly the same as last September at 109 listings. The townhome and condo inventory level is down 8.8%, with 62 properties on the market in September of 2008.

Now we’ll look at January through September of 2007 compared to January through September of 2008. New listings put onto the MLS in Rosemount increased by 1.4%. Closed sales are down 17.2%, with 207 properties closing in 2008. The average sales price is down 7.8% from $256,952 to $237,005. The percent of original list price received at the time of sale decreased 2.9%, from 95.3% to 92.5%. Average days on the market until sale are up 20.3%, going from 104 in 2007 to 125 days this year.

One interesting trend here is that the number of new listings is still increasing! In most areas, this is not the case. Most people are holding off on selling since listings are staying on the market for so long and they’re not getting top dollar for their properties. It’s too hard to predict the reasoning for this, but an interesting fact nonetheless. Also looking at the median price of home sales in Roseville over the last few years, it’s been a roller coaster. They are now almost nearing the highest point in the last few years, which is encouraging!