Minnesota Real Estate Blog
by Ryan O'Neill, Co-Host of The Minnesota Real Estate Talk Show
Maplewood MN Real Estate
 Maplewood is an eastern suburb in the Twin Cities metropolitan area located 9 miles from downtown St. Paul. At the top of the list of major employers in the area, the world headquarters and main campus for 3M Corporation are located in Maplewood. Housing figures for Maplewood from December 2008 to December 2009 were recently released so we will be examining what is happening in this market and we will also compare year-to-date information. The number of single-family homes in December 2008 was 172 homes on market, 44 being new listings. December 2009 saw the total number of homes on the market drop 24.4% to 130. Similarly, townhouse and condo inventories saw a 19.4% decrease between December 2008's 98 units and December 2009's 79 units. New market listings in December '09 were down 31.8% to 30 over the previous year. This change for new market listings follows the year-to-date trend: 819 in 2008 down to 802 in 2009. In addition to the nation's current economic climate, traditionally new listings during Minnesota's "favorite season" (i.e., winter) are less than any other time of the season. Closed sales for December 2009 were down, yet the year-to-date saw an increase. In December '08 and year-end of 2008, the numbers of closed sales were 25 and 371 respectively. Closed sales for December '09 fell 8% to 23 with the year-to-date at 448 closings, a positive 20.8% change over the previous year. The average sales price for December 2008 to December 2009 slipped slightly from $176,718 in 2008 to $168,387 in 2009. The average sales price for the year-to-date decreased 15% from $190,000 to $162,000 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price increased 7.1% from December 2008's 88.6% to 94.9% in 2009. For the year-to-date in 2009, 92.9% percent of sellers in Maplewood received the original listing price (not accounting for previous listing prices), which rose slightly by less than one-percent. The average number of days a home sat on the market fell by 16.6% from 179 days in December 2008 to 149 days in December 2009, more than the year-to-date change, which slipped 3.2% to 145 days in 2009. Sellers are dropping sales prices or accepting lower offers to move homes, continuing to show that this area is still a buyers market. Don't know if home ownership is right for you? The Minnesota Real Estate Team can help you with their free minnesota first time home buyer class. Or if you're curious about the real estate market and have a question tune into KTLK 100.3FM on Saturday mornings from 11AM to NOON for the Minnesota Real Estate Show. Labels: Maplewood Market Update, Minnesota Real Estate Show, MN First Time Homebuyers
Blaine MN Real Estate
 Blaine is an outer-ring suburb approximately 25 minutes north of Minneapolis. In 2008 CNNMoney.com gave Blaine a rank of 93 as a "Best Place to Live" on their top 100. Today we're looking at housing figures for Blaine from December 2008 to December 2009. We'll also look at year-to-date information for Blaine.  The single-family detached inventory for Blaine in December 2008 was 338 homes on market, 88 being new listings. December 2009 saw the total number of homes on the market drop 25.1% to 253. Similarly, townhouse and condo inventories saw a 21.9% decrease between December 2008's 155 units and December 2009's 121 units. The new market listings for December '09 were up 19.3% to 105 over the previous year. The change for new market listings didn't follow the year-to-date trend as slightly less were added to the market: 1,716 in 2008 down to 1,612 in 2009. Closed sales for December 2009 were down over the previous year, while the year-to-date saw an increase. In December '08 and at the year-end of 2008, the numbers of closed sales were 53 and 762 respectively. Closed sales for December '09 fell 26.4% to 39 with the year-to-date at 880 closings, a positive 15.5% change over the previous year. The average sales price for December 2008 to December 2009 remained relatively the same at $201,435 in 2008 to $201,452 in 2009. The average sales price for the year-to-date decreased 13.5% from $226,124 to $195,720 in 2008 and 2009 respectively. However, the percent of sellers receiving the original list price increased 11.9% from December 2008's 86.9% to 97.2% in 2009. For the year-to-date in 2009, 94% percent of sellers in Blaine received the original listing price, which rose slightly by two-percent. The average number of days a home sat on the market fell by 4.8% from 129 days in December 2008 to 123 days in December 2009, more than the year-to-date change, which slipped 2.1% to 126 days in 2009. As sales prices indicate, this area is a buyers market. If you're looking to purchase a home and don't know where to start, The Minnesota Real Estate Team can help you with their free seminar to help first time mn home buyers. Or if you're just curious about homes in the area, check out these Minnesota real estate properties. Special thanks to our friends at the Minneapolis Area Association of Realtors for providing these valuable statistics. Labels: Blaine Market Update, Blaine Real Estate, MN First Time Homebuyers
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
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