St. Louis Park MN Real Estate
St. Louis Park, Minnesota, is a first-ring suburb directly west of Minneapolis. The city is bordered by Golden Valley in the north, Edina in the south, and Hopkins in the west. St. Louis Park is conveniently only minutes from downtown Minneapolis by bus or car. Today we're comparing housing market figures for St. Louis Park from November 2008 to data collected in November 2009. We'll also examine year-to-date information for St. Louis Park.
In November 2008, the single-family detached inventory for St. Louis Park was 205 homes on market, 60 being new listings. In November 2009, the number of homes on the market dropped 11.7% to 181 and of those, 50 were new listings. The new listing difference amounts to a 16.7% decline over the previous year. This change does not follow the year-to-date trend as slightly more new listings were added to the market: 1,217 in 2008 up to 1,220 in 2009.
The ratio of new listings to closed sales for November 2009 and the year-to-date is positive. For closed sales in November '08 and at the year-end of 2008, the numbers were 38 and 574 respectively. Closed sales for November '09 jumped 71.1% to 65 with the year-to-date at 637 closings, a positive 11% change over the previous year.
The average sales price for November 2008 rose 1.9% from $231,193 to $235,499 in November 2009. The average sales price for the year-to-date decreased 8% from $249,207 to $229,217 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price rose 4.5% from November 2008's 89.2% to 93.2% in 2009. The overall year-to-date percent of sellers in St. Louis Park receiving the original list price dropped slightly by 0.7% from 94% in 2008 to 93.4% in 2009.
The average number of days on the market before a home sold fell 34.8% from 169 days in November 2008 to 110 days in November 2009, less than the year-to-date change which rose 5.2% from 112 days in 2008 to 118 days in 2009.
If you're looking to purchase a home and don't know where to start, The Minnesota Real Estate Team offers free classes to help mn first time home buyers. Or if you're an investor looking to start netting some positive cash flow, the mn investment property team can show you how!
Whether you're a first time homebuyer or a seasoned investor, there are properties in St. Louis Park to meet the needs of you and your family.
Special thanks to our friends at the Minneapolis Area Association of Realtors for providing these valuable statistics.
Labels: MN First Time Homebuyers, MN Investment Properties, St Louis Park Market Update, St. Louis Park real estate
2 Comments:
Saint Louis Park is a wonderful area. I can't believe the stats say that this part of Minneapolis is declining.
By
Saint Paul Homes for Sale, at 9:48 PM
The new West End development is great! It offers a variety of high end retail, restaurants ( Crave, Cooper) and a new Showplace Icon theater that even serves cocktails in the VIP. Areas that offer this mix of amenities are especially attractive to first time home buyers. Hopefully we'll see a slight increase in home sales due to this development.
By
Jenn sells houses, at 11:00 AM
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