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
1 Comments:
Coon Rapids has always been a great area to buy homes for both owner occupants and investors. The housing stock is solid and the area has really held its values.
By
Eden Prairie Houses, at 10:19 PM
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