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
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
