Brooklyn Park real estate

Brooklyn Park, MN Real Estate Market Update – April 2009

Brooklyn Park is the 6th largest city in Minnesota, located on the banks of the Mississippi River just Northwest of Minneapolis. First we’ll look at March of 2008 compared to March of 2009. For the city of Brooklyn Park, new listings put on the market were down by 15%, with 227 properties going onto the market. Closed sales increased by 56.9%, with 102 listings closing in March of 2009! The average sales price in March went down 25.5% from last March, going from $202,735 to $151,131. The average days on the market until sale decreased by 9.5%, from 179 to 162 days. The overall active inventory level for single family homes in Brooklyn Park is down 33.5%, from 699 last March to 465 listings in March of 2009. The townhome and condo inventory level is also down by 16.5%, from 255 to 213 properties on the market this March.

Next we look at January through March of 2008 compared to January through March of 2009. There has been a 4.2% drop in new listings put onto the MLS in Brooklyn Park. Closed sales are up 57.1%, with 156 properties closing in 2008 vs. 245 closings in 2009. The average sales price is down 26.7% from $207,107 to $151,909. The percent of original list price received at the time of sale is up 0.1%, and stays just above 89%. Average days on the market until sale are down 5.8%, going from 163 to 154 days.

New listings are down and closed sales are up! Quite a good sign for homeowners in Brooklyn Park! Target Corporation is currently expanding its northern campus and will soon be providing over 26,000 jobs to this area. This makes Brooklyn Park an even more attractive place to buy and live!