MN MLS

Albertville, MN Homes for Sale

noreply@blogger.com (Ryan O'Neill) — Mon, 08 Feb 2010 22:38:00 +0000

Currently looking at the housing market for December 2009 in Albertville, Wright County, Minnesota, we saw a total of 13 new homes listed. This brings us down a single listing compared to last year's 14 active properties for sale in December of 2008. This drop is a negative 7.1% change, but there were still a total of six sales closed this year as in 2008 as well. Many of these were in fact short sales in mn.

There was a positive 8.2% increase, with the median sales price coming in at $155,150 over last years $143,450. The average sales price did show a small dip of a negative 2.3%, with last year's price of $161,950 over this year's, $158,300. There was a positive 2.5% climb on percentages of original listing prices received at the close of sale, with 90.8% this year to last year's 88.6%. As far as the number of days the houses were listed on the open market, we saw no increase or decrease from last years average of 109 days. There has been an overall steep decline in the number of single-family detached units for sale this year in Albertville, with only 39 in comparison to last years 71 units. As for townhouse-condo units, the numbers crunch a much closer 25 to last year's 24. With this new December data, we are seeing an overall trend of more market activity, as far as closes, but with less new units being introduced, and less appreciation than in the prior year.

Year to date, in 2008, we saw 271 new listings opposed to last years 209, bringing a negative 22.9% decrease. We did however, see more closed sales this year with 128 closed opposed to last years 115, giving a positive 11.3% increase. Median and average sales took a hit this year with median sales price dropping to $169,000 from last years $203,500, a difference of a negative 17.0%. There was also an average sales price decrease of negative 14.6%, with last year rounding out to $207,170, and then dropping this year to $176,924. On another positive note, the percentage of the original list price received at sale rose this year by a positive 2.0%, with 92.9% this year to last years 91.1%.

Lastly, we saw a positive change in the days on market section of the mn real estate market. The average days houses were on the market last year was 8.8% more than this year, with homes for sale averaging only 144 days on the market this year compared to last year's 158.

This has been an update of both December 2009 to December 2008, as well as yearly comparisons for the real estate market in Albertville, MN

Coon Rapids MN Real Estate Market Update

michael@michaelvenske.com (Michael) — Fri, 29 Jan 2010 18:44:00 +0000

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!

Maplewood MN Real Estate

michael@michaelvenske.com (Michael) — Wed, 20 Jan 2010 21:15:00 +0000

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.

Blaine MN Real Estate

michael@michaelvenske.com (Michael) — Fri, 15 Jan 2010 14:54:00 +0000

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.

St. Louis Park MN Real Estate

michael@michaelvenske.com (Michael) — Tue, 05 Jan 2010 22:17:00 +0000

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.

Bloomington, MN real estate

noreply@blogger.com (Ryan O'Neill) — Tue, 29 Dec 2009 01:39:00 +0000

Bloomington is located south of Minneapolis and is bordered by Eden Prairie, Edina, Richfield, and Burnsville. First we're going to look at November of 2008 compared to the month of November in 2009.

As of November 2009, there were 78 new listings put onto the market in Bloomington, down 17% from 94 listings last November. Closed sales are up 35.6% with 80 properties that closed this November 2009 compared to 59 last November 2008. The average sales price decreased 8.3%, going from $222,460 to $204,001. The percent of original list price received at the time of sale in Bloomington was 93.5% this November, an increase of 2.3% from last November.

The current average days on the market until sale were 129 days compared to 126 days last November 2008, an increase of only 2.3%. The overall active inventory level for single family homes has decreased 19.6% to 258 homes compared to 321 homes in November 2008. The townhome and condo inventory level is down 5.8%, with 162 properties on the market in November of 2009.

Now let's take a take a look at January through November of 2008 compared to January through November of 2009. New listings in Bloomington decreased 12.1%, going from 1,767 to 1,554 in 2009. Closed sales are up 3.7% with 841 closings in 2009. The average sales price is down 12.0% from $228,583 to $201,061. The percent of original list price received at the time of sale is down 0.5%, going from 93.7% to 93.2%. The average days on the market until sale increased 12.9% from 115 days in 2008 to 130 days in 2009.

The numbers for Bloomington are a reflection of most areas in the current market. Listings are on the market a little longer and selling for less, however there are fewer listings on the market this year versus last. Considering there are approximately 12.06 houses per buyer currently available, the fewer listings on the market in one area the better! One other positive statistic I see is the inventory of townhome-condo units on the market, which is down 5.8% from last year. That's a good sign considering townhouses and condos are difficult to sell in the current market.

Minnesota First Time Home Buyers

noreply@blogger.com (Ryan O'Neill) — Sun, 16 Aug 2009 22:43:00 +0000

Hello first time buyers!! Below is some information in regards to our outstanding free monthly seminar that we put on for all first time home buyers here in Minnesota. Whether you have questions regarding the $8000 tax credit that is available or maybe you want to learn more in regards to home buying tips....

At this monthly free class in Burnsville, our team, The Minnesota Real Estate Team really dives deep into any and all questions you may have regarding buying your first home. And we do so in a low pressure yet informative format.

As a first time buyer, realize that there are so many great down payment assistance programs available in addition to some grants. At the monthly seminar, our first time home buying mortgage partner, Darcy McDonald, takes time to go over the "ins and outs" of some of these various programs. Darcy really specializes in financing and has come to understand all of various city, county, and state programs that are available.

We also discuss some various buying tips, and why it does make sense to have a top real estate agent on you side to guide you through the buying process.

For more information on these events, check out http://www.greatmn.com/ We have put together a website just for first time home buyers. Hope to see you at an upcoming seminar!

Brooklyn Park real estate

noreply@blogger.com (Ryan O'Neill) — Fri, 24 Apr 2009 21:53:00 +0000

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!

Hastings Real Estate

noreply@blogger.com (Ryan O'Neill) — Sat, 07 Mar 2009 00:26:00 +0000

Hastings is a great river community off the Mississippi, just before it meets up with the St. Croix in Prescott, Wisconsin. Let's look at real estate numbers for Hastings, comparing January of 2008 to January of 2009. New listings going onto the market this January were down 27.3%, from 55 listings in January 2008 to 40 listings this January. Closed sales in Hastings are also down by 55.6%, going from 18 to eight. The average sales price decreased 19% and was $175,038 in January 2009. And the median sales price decreased by 6.5% and was $166,000 in January of 2009. The percent of original sales price received at the time of sale went from 94.8% in Jan 2008 to 84% in Jan 2009, a decrease of 11.4%. Ouch! Average days on the market until sale also had a heavy increase from 121 to 212 days on the market in January 2009.

Now we'll take a look at the entire year of 2007 compared to the entire year of 2008. New listings in Hastings decreased 16%, going from 745 in 2007 down to 626 in 2008. Closed sales are down 21% with 264 closings in 2008. The average sales price is down 13.2% from $228,117 to $197,914 in 2008. The percent of original list price received at the time of sale is down 4.6%, going from 94.9% to 90.5%. The average days on the market until sale increased 28.9% from 125 to 161 days.

Hastings is in a tough spot right now. First thoughts are about the bridges to Hastings...there is the Mendota Bridge which has been under construction for years, due to be finished in 2010 and now they're considering rebuilding the small bridge that goes into Hastings on Hwy 61 over the Mississippi. Both of these are preventing people from really wanting to live in this beautiful community. When they are finished, I imagine the demand will come back to Hastings!

Crystal, MN Real Estate

noreply@blogger.com (Ryan O'Neill) — Thu, 26 Feb 2009 22:48:00 +0000

Crystal, MN Real Estate Market Update - February 2009

Crystal is a beautiful community right on the border of Minneapolis. Today, we will first look at the real estate activity in this suburb for January of 2008 compared to January of 2009. This January, there were 41 listings put on the market, down 35.9% from last January. Closed sales are up in Crystal by 72.7%, going from 11 to 19 closings this January! The average and median sale price however dropped by over 40%. The average sales price went from $173,495 to $102,383, and the median sales price went from $175,500 to $97,500. The percent of original sale price received at the time of sale decreased 11.3% from 91.5% to 81.2%. The average days on the market until sale in Crystal went from 202 to 177 days, down 12.2%! Housing inventory also dropped: single family detached inventory is down 24.6% to 132 homes on the market and townhome/condo inventory is down 70.6%, to just five homes on the market.

Now we'll take a look at the entire year of 2007 compared to the entire year of 2008. New listings in Crystal decreased 11.2%, going from 708 in 2007 down to 629 in 2008. Closed sales are up 16% with 304 closings in 2008. The average sales price is down 16.3% from $194,245 to $162,566 in 2008. The percent of original list price received at the time of sale is down just 2.5%, going from 94.3% to 92%. The average days on the market until sale increased 28.3% from 112 to 143 days.

Crystal's listings have really seemed to drop, with townhome/condo inventory being very low, new listings falling and closed sales rising! Demand for housing in this area must be increasing. Being so close to Minneapolis but yet not in Minneapolis, definitely makes it a sought after area. Of course, these listings that have closed are at low prices. If you are looking to sell soon in Crystal, you might want to think about renting instead until the market comes back! Or, price your home competitively and use the marketing firepower of a top team to get it sold for you!

Real Estate in Mendota Heights

noreply@blogger.com (Ryan O'Neill) — Thu, 12 Feb 2009 20:53:00 +0000

Mendota Heights, MN Real Estate Market Update - February 2009

Mendota Heights is a city of 11,000 people, with most homes situated along the Mississippi and Minnesota River Bluffs. Today, we will first look at January of 2008 compared to January of 2009.

There were 10 properties put onto the market this January, down 9.1% from 11 new listings last January. Closed sales are down 22.2% with seven properties closing this January compared to nine last January. The average sales price decreased 40.8%, going from $445,469 to $263,757. The median sales price also decreased 41.7%, going from $315,000 to $183,500. The percent of original list price received at the time of sale in Mendota Heights was 88.8% this January, a decrease of 10.3% from last January's 99%! The average days on the market until sale were 66 days in 2008 and are now 265 days, an increase of 302.9%. The overall active inventory level for single family homes increased 9.8% to 45 homes in January 2009. The townhome and condo inventory level is down 14.3%, with 36 properties on the market in January of 2009.

Now we'll take a look at the entire year of 2007 compared to the entire year of 2008. New listings in Mendota Heights decreased 12%, going from 291 in 2007 down to 256 in 2008. Closed sales are down 21.1%, with 105 closings in 2008. The average sales price is down 25.3% from $438,242 to $327,365 in 2008. The percent of original list price received at the time of sale is down 6.5%, going from 98.5% to 92.1%. The average days on the market until sale increased 33.6% from 100 to 133 days.

Sellers in Mendota Heights are struggling right now to get their properties sold. And prices, like many other cities, have "taking a beating" because of the number of short sales and REO's in our market. However, Mendota Heights is certainly a beautiful city with lots of interesting topography and mature trees, lakes, and nature preserves.

Coon Rapids real estate

noreply@blogger.com (Ryan O'Neill) — Sat, 27 Dec 2008 01:45:00 +0000

Coon Rapids is located north of Minneapolis and is bordered by Blaine, Champlin, and Anoka. First we're going to look at November of 2007 compared to the month of November in 2008. There were 98 properties put onto the market in Coon Rapids this year, down 14% from 114 new listings last November. Closed sales are up 10% with 44 properties closing this November compared to 40 last November. The average sales price decreased 21%, going from $189,097 to $149,390. The percent of original list price received at the time of sale in Coon Rapids was 87.6% this November, a decrease of 5.9% from last November. The average days on the market until sale were 193 days, an increase of 23.3%. The overall active inventory level for single family homes increased 5% to 271 homes in November 2008. The townhome and condo inventory level is down 11.4%, with 203 properties on the market in November of 2008.

Now we'll take a look at January through November of 2007 compared to January through November of 2008. New listings in Coon Rapids decreased 11.5%, going from 1,747 to 1,546 in 2008. Closed sales are down 5.2% with 622 closings in 2008. The average sales price is down 13.8% from $199,727 to $172,080. The percent of original list price received at the time of sale is down 4.1%, going from 96% to 92%. The average days on the market until sale increased 16.3% from 124 to 145 days.

The numbers for Coon Rapids are a reflection of most areas in the current market. Listings are on the market longer and selling for less, however there are fewer listings on the market this year vs. last. Considering there are 12.06 houses per buyer currently available, the fewer listings on the market in one area the better! One other positive statistic I see is the inventory of townhome-condo units on the market, which is down 11.4% from last year. That's a good sign considering townhouses and condos are difficult to sell in the current market.

Maplewood MN homes for sale

noreply@blogger.com (Ryan O'Neill) — Fri, 21 Nov 2008 23:26:00 +0000

Maplewood, MN Real Estate Market Update - November 2008

Maplewood borders St. Paul on the Northeast side, and is about ten minutes to downtown St. Paul. Whether you are looking for a quaint neighborhood to live in or a big city atmosphere, Maplewood has the best of both worlds! Aside from all the great restaurants and shopping, Maplewood is home to 3M Headquarters, St. John's Hospital, and the Maplewood Mall.

Let's first look at October of 2007 compared to the month of October in 2008. There were 57 properties put onto the market in Maplewood, down 24% from 75 new listings last October. Closed sales are up 85.7% from 14 to 26 closings in October. The average sales price decreased 15.7% from last October, going from $242,778 to $204,556. The percent of original list price received at the time of sale in Maplewood was 95.4%, an increase of 5.8%. The average days on the market until sale decreased 1.2% from 115 to 114 days. The overall active inventory level for single family homes decreased 7% to 172 homes in October 2008. The townhome and condo inventory level is down 11.7%, with 91 properties on the market in October of 2008.

Now we'll take a look at January through October of 2007 compared to January through October of 2008. There has been an 18.3% drop in new listings put onto the MLS in Maplewood. Closed sales are down 6%, from 334 to 314 closings. The average sales price is down 9.7% from $229,040 to $206,843. The percent of original list price received at the time of sale is down 1.7%, from 94.5% to 92.9%. The average days on the market until sale are up 9.4% from 134 to 146 days.

Looking at the numbers, one thing that stands out is the percent of original list price received at the time of sale. Even though this number has gone down over the last year 1.7%, it's still at 92.9% of the original list price! This is still a good number. Closed sales also haven't seen too much of a decrease which is promising for Maplewood!

Overall, this community in the Twin Cities real estate market is surely still a great place for buyers to choose. With a number of properties for sale on the MLS, and prices still relatively low, real estate buyers really are being afforded some outstanding choices.

Medina MN Real Estate

noreply@blogger.com (Ryan O'Neill) — Wed, 12 Nov 2008 23:54:00 +0000

Medina, MN Real Estate Market Update - November 2008

Medina is a great city located near Lake Minnetonka, Lake Independence, and Long Lake and is home to many famous athletes. Also home to the Medina Entertainment Center which is used by people all over the Twin Cities for weddings, receptions, banquets, meetings, or attending concerts or going to dinner, etc! Being a lake city, is has tons of natural beauty and parks for recreational purposes. It is also home to John Stenroos on our team, who is a great, great agent if you're looking to buy or sell in this area!

First we'll look at October of 2007 compared to the month of October in 2008. In Medina, 20 properties were put on the market this October, up 66.7% from 12 new listings last October. Closed sales went from 4 to 3 closed sales in October of 2007-2008. The average sales price increased 10.7% from last October, going from $663,450 to $734,167. The percent of original list price received at the time of sale in Medina was only 89.3%, a decrease of 3.4% from October of 2007. The average days on the market until sale increased 93.2% from 205 to 396 days. The overall active inventory level for single family homes increased 17.9% to 66 homes in October 2008. The townhome and condo inventory level is down 19%, with 17 properties on the market in October of 2008.

Now when we take a look at January through October of 2007 compared to January through October of 2008, there has been a 7.4% drop in new listings put onto the MLS in Medina. Closed sales are down 17%, with 39 properties closing here in 2008. The average sales price is down 12.7% from $787,765 to $687,553. The percent of original list price received at the time of sale is down 2.8%, from 93.9% to 91.3%. The average days on the market until sale are up from 123 to 228 days, an increase of 85.3%.

Being that the price of homes is much higher in Medina; the time on the market is also much longer than usual. The demographic of buyers is just not the majority in Medina therefore you have a lesser audience when you list a high end property here. If you're trying to sell in Medina, expect to wait a while!

Roseville houses for sale

noreply@blogger.com (Ryan O'Neill) — Fri, 07 Nov 2008 22:46:00 +0000

Roseville, MN Real Estate Market Update - November 2008

Roseville is a great city just north of Minneapolis/St. Paul that has many movie theaters, restaurants, bars, golf courses, and shopping to enjoy. It's also known for its safe neighborhoods, quality schools and parks, and its excellent business climate. Interestingly enough, Roseville was the location of the first Target ever built, the first Best Buy store ever built, the first Barnes & Noble bookstore outside of New York City, and the first McDonald's built in the state of Minnesota! Wow!! It's also headquarters to Old Dutch and The Minnesota State Lottery.

First we'll look at September of 2007 compared to the month of September in 2008. In Roseville, 47 properties were put on the market this September, up 9.3% from 43 new listings last September. Closed sales are up 33.3%, with 28 listings closing in September of 2008. The average sales price went down 11.5% from last September, going from $260,253 to $230,291. The percent of original list price received at the time of sale in Roseville was only 89.9%, a decrease of 6.2% from September of 2007. Unfortunately, the average days on the market until sale increased 133.1% from 60 to 140 days! The overall active inventory level for single family homes in Roseville stayed exactly the same as last September at 109 listings. The townhome and condo inventory level is down 8.8%, with 62 properties on the market in September of 2008.

Now we'll look at January through September of 2007 compared to January through September of 2008. New listings put onto the MLS in Rosemount increased by 1.4%. Closed sales are down 17.2%, with 207 properties closing in 2008. The average sales price is down 7.8% from $256,952 to $237,005. The percent of original list price received at the time of sale decreased 2.9%, from 95.3% to 92.5%. Average days on the market until sale are up 20.3%, going from 104 in 2007 to 125 days this year.

One interesting trend here is that the number of new listings is still increasing! In most areas, this is not the case. Most people are holding off on selling since listings are staying on the market for so long and they're not getting top dollar for their properties. It's too hard to predict the reasoning for this, but an interesting fact nonetheless. Also looking at the median price of home sales in Roseville over the last few years, it's been a roller coaster. They are now almost nearing the highest point in the last few years, which is encouraging!

Farmington Real Estate

noreply@blogger.com (Ryan O'Neill) — Fri, 31 Oct 2008 17:07:00 +0000

Farmington, MN Real Estate Market Update - October 2008

Today we're going to look at Farmington and the real estate trends in the city. This area is one that has really grown a lot in the past years, and is still growing. Many neighborhoods here are quite new meaning lots of newer homes of course. The prices are also fairly affordable, being lower than most cities that are closer to Minneapolis and St. Paul. It's only about a 30 minute drive to the cities however. So if you don't mind commuting, you can get a great deal in Farmington!

First we'll look at September of 2007 compared to the month of September in 2008. For the city of Farmington, new listings put on the MLS were up 20%, with 78 properties going onto the market. Closed sales declined 10.5%, with 34 listings closing in September of 2008. The average sales price went down 8.9% from last September, going from $224,799 to $204,702. The percent of original list price received at the time of sale went up only by 0.1%, going from 94% to 94.1%. The average days on the market until sale are up 25%, from 143 to 179 days! The overall active inventory level for single family homes in Farmington is down 24.1%, from 274 to 208 listings. The townhome and condo inventory level is up 38.9%, with 100 properties on the market in September of 2008.

Next we look at January through September of 2007 compared to January through September of 2008. There has been a 11.2% drop in new listings put onto the MLS in Farmington. Closed sales are down 15.3%, with 293 properties closing here in 2008. The average sales price is down 9% from $234,607 to $213,411. The percent of original list price received at the time of sale is down 2.6%, from 95.6% to 93.2%. Average days on the market until sale are up 9.3%, going from 136 in 2007 to 148 days this year.

It's a tough time right now for townhomes and condos, and right now in Farmington there seems to be an abundance of townhomes available. Most of them are fairly new as well. Many young couples/families purchased these and are now looking to upgrade into single family homes and are having a difficult time selling them! If you're a first time buyer or are just looking at purchasing a townhome in a nice area, now would be a great time to invest in a newer townhome in Farmington!

Golden Valley homes

noreply@blogger.com (Ryan O'Neill) — Fri, 24 Oct 2008 20:57:00 +0000

Golden Valley, MN Real Estate Market Update - September 2008

Golden Valley is home to several large parks and green spaces, public and private golf courses, excellent schools (public and private, including: Robbinsdale and Hopkins School Districts, Good Shepherd Catholic School, Perpich Center for Arts Education, and Breck School) and churches, and shopping is always nearby. Golden Valley is also close to downtown Minneapolis which is outstanding for commuters. There are several large employers including General Mills, Kare 11, Honeywell Intl, Bluestone Garden, UnitedHealth Group, and USFamily.net located within city limits. Homes currently for sale in Golden Valley range in price from $39,900 to $1,295,000, making it a very diverse community. Jesse Grumdahl on our team currently resides in Golden Valley and could help you get to know the area! Check out his website www.mnshortsale.com as well.

First we'll look at September of 2007 compared to the month of September in 2008. For the city of Golden Valley, new listings put on the MLS were down by 6.5%, with 43 properties going onto the market. Closed sales decreased by 21.1%, with 15 listings closing in August of 2008. The average sales price in August went down 10.9% from last August, going from $286,117 to $254,943. The average days on the market until sale increased by 11.2%, from 144 to 160 days! The percent of original list price received at the time of sale increased only 1.5%, going to 96.2%. The overall active inventory level for single family homes in Golden Valley is up 9.2%, from 119 to 130 listings in 2008. The townhome and condo inventory level is up 14.6%, from 41 to 47 properties on the market this September.

Next we look at January through September of 2007 compared to January through September of 2008. There has been a 1.6% drop in new listings put onto the MLS in Golden Valley. Closed sales are down 11.6%, with 160 properties closing in 2008 vs. 181 closings in 2007. The average sales price is down 5.1% from $340,547 to $323,150. The percent of original list price received at the time of sale is down 1.7%, from 95.2% to 93.5%. Average days on the market until sale are up 23.3%, going from 113 to 139 days.

The trends in Golden Valley aren't too different from other areas of the Twin Cities. The average sales price continues to fall but hopefully will bottom out soon and then begin to rise. Many predict we are nearing that time. Also days on the market until sale for new listings is currently 139 days in Golden Valley, so sellers should plan accordingly and price aggressively to sell fast!

Lake Elmo real estate

noreply@blogger.com (Ryan O'Neill) — Fri, 17 Oct 2008 18:50:00 +0000

Lake Elmo, MN Real Estate Market Update - September 2008

Lake Elmo was named one of the best places to live by Money Magazine in 2007. Their school system is rated 9 out of 10 by GreatSchools.net. Back in the passenger train days (late 1800s), Lake Elmo was known as a great summer time getaway and an all year round great place to live. It remains that way today. It's so close to the Twin Cities and also still has the rural feel. if you need to get to the city you can drive to St. Paul in less than 20 minutes without speeding. Of course, Woodbury is closer and has some really great shopping!

First we'll look at September of 2007 compared to the month of September in 2008. For the city of Lake Elmo, new listings put on the MLS stayed exactly the same with 13 properties going onto the market 2007 and 2008. Closed sales were three in September of 2007 compared to two in September of 2008. The average sales price in September dropped 55.7% from last September, going from $456,667 to $202,500, again a really big difference based on the small inventory. The percent of original list price received at the time of sale dropped by 21.6%, going from 96.6% to 75.7%. The average days on the market almost doubled, from 118 to 347 days! The overall active inventory level for single family homes in Lake Elmo is down 24%, from 75 to 57 listings. The townhome and condo inventory level is up 50%, with just three properties on the market in September of 2008.

Next we look at January through September of 2007 compared to January through September of 2008. There has been a 16.3% drop in new listings put onto the MLS in Lake Elmo. Closed sales are up 2.7%, with 38 properties closing in 2008. The average sales price is down 1.3% from $501,876 to $495,295. The percent of original list price received at the time of sale is down 4.6%, from 95.5% to 91.2%. Average days on the market until sale are up 28.1%, going from 138 to 177 days.

Lake Elmo is quite a small community with a population of only 7500 in the year 2007. The home prices here are definitely a reflection of the community being a little more upper-scale and newer. Lots of new construction available right now in upper price ranges and they are beautiful homes! Lots of land also if you enjoy a bigger yard and not being so close to your neighbors!

Real Estate in Elko New Market

noreply@blogger.com (Ryan O'Neill) — Fri, 10 Oct 2008 20:29:00 +0000

Elko New Market, MN Real Estate Market Update - October 2008

Elko New Market is a small community just south of Lakeville. Home of the Elko Speedway, Saturday nights are really "roaring" here! Just ask Nichole Fredrickson - she is an agent on the team who lives here and loves the area. Elko and New Market used to be separate cities until the cities' residents voted to combine the two and became one city on January 1, 2007. But now-a-days, the citizens are still trying to maintain the small town feel with a sense of safety and knowing your neighbors.

Now let's compare September of 2007 to the month of September in 2008. For the city of Elko New Market, new listings put on the MLS were down by 10.7%, with 25 properties going onto the market this September, as opposed to 28 last September. Closed sales stayed exactly the same, with eight closed sales in September of 2007 and 2008. The average sales price went from $310,943 in 2007 to $230,415 in September of 2008, down 25.9%. The percent of original list price received at the time of sale went down 10.1% going from 104.9% to 94.3% in 2008. The average days on the market went down 29.7%. The overall active inventory for single family homes in Elko New Market is down 33.7%, from 83 to 55 listings. The townhome and condo inventory level is up 54.5%, with 17 properties on the market in September of 2008.

Next we look at January through September of 2007 compared to January through September of 2008. There has been a 12.7% drop in new listings put onto the MLS in Elko New Market. Closed sales are up 60.4%, with 77 properties closing so far in 2008. The average sales price is up from $115,775 to $246,812. The percent of original list price received at the time of sale is up 175.5%, from 34.1% to 93.9%. Average days on the market until sale went from 55 to 134 days, which is up 143.9% from last year.

Some of the numbers might seem quite extreme when looking at stats for a small town since the smallest change can bring about a large number. For example, condo/townhome inventory going up 54.5% in a year is only the difference between six properties. Here's another one: closed sales when comparing September to September were the same, but comparing the entire year are up 60% (29 more properties closed in 2008!). In relation, the average sales price of those closed sales went up 113.2%.

St Michael houses for sale

noreply@blogger.com (Ryan O'Neill) — Wed, 01 Oct 2008 19:12:00 +0000

St. Michael, MN Real Estate Market Update - September 2008

St. Michael is a great city about 33 miles northwest of Minneapolis along I94. Whether you're in the mood to shop, go house hunting, go out for dinner and a movie, or just enjoy the outdoors, St. Michael has it all! Housing is more affordable here also since it's a "ways out" from the Twin Cities metro area. It's also a great place for first time home buyers to get a great first time investment! Bernie Borschke on our team lives in St. Michael and is an expert in that area.

Let's take a look at August of 2007 and compare it to the month of August in 2008. For the city of St. Michael, new listings put on the MLS were down a whopping 38.2%, with 42 properties going onto the market. Closed sales were also down by 24%, with 19 listings closing in August of 2008. The average sales price in August took a plunge from $275,940 to $227,716. This is a 17.5% drop from last August. The percent of original list price received at the time of sale dropped by 7.1%, going from 98.2% to 91.2%. Unfortunately, the average days on the market are up 33.3%, from 130 to 173 days! The overall active inventory level for single family homes in St. Michael is down 35.7%, from 258 to 166 listings. The townhome and condo inventory level is also down by 21.3%, with 59 properties on the market in August of 2008.

Now when we take a look at January through August of 2007 compared to January through August of 2008, there has been a 18.1% drop in new listings put onto the MLS in St. Michael. Closed sales are down 10.6%, with 126 properties closing in 2008 vs. 141 in 2007. The average sales price is down 15.5% from $266,924 to $225,660. The percent of original list price received at the time of sale is down 4.9%, from 96.5% to 91.8%. The average days on the market until sale are up 27.2%, from 154 to 196 days.

Unfortunately, these St. Michael sales numbers don't look too promising right now. Less people are putting their homes on the market, however homes' values are going down and less listings are closing (which is definitely a picture similar to other cities here in the Minneapolis real estate market.) If you're not a big fan of the Twin Cities and want to seek nice affordable housing a bit farther out, St. Michael would be a great choice. There are not quite as many homes to choose from, but you can get an outstanding deal right now!

Rosemount homes

noreply@blogger.com (Ryan O'Neill) — Thu, 25 Sep 2008 21:24:00 +0000

Rosemount, MN Real Estate Market Update - September 2008

Let's talk about Rosemount and the real estate numbers for August. Rosemount is home of the Irish, their high school mascot! Rosemount is a great city on the outskirts of the Twin City Metro Area, but becoming closer and closer the more building they do around it! Rosemount and it's surrounding area is still growing quite rapidly by building more houses and developing more land. However, Rosemount has kept up its small town atmosphere through these changes. Located about 25 minutes straight south of St. Paul, it makes it easy to get anywhere in the southern twin cities area pretty quickly!

First we'll look at August of 2007 compared to the month of August in 2008. For the city of Rosemount, new listings put on the MLS were down by 10.5%. A total of 68 properties went onto the market vs. 76 that were put on last year. Closed sales decreased by 25.6%, with 32 closed sales in August of 2008. The average sales price went from $289,373 in 2007 to $261,525 in August of 2008, down 9.6%. The percent of original list price received at the time of sale went up just 0.6%, staying pretty consistent (going from 93.2% to 93.8%.) Average days on the market actually went down 35.4%, from 159 to 103 days! The overall active inventory level for single family homes in Rosemount is down 12.6%, from 151 to 132 listings. The townhome and condo inventory level is up 3.1%, with 99 properties on the market in August of 2008.

Next, we will look at January through August of 2007 compared to January through August of 2008. This year, there has been a 16.4% drop in new listings put onto the MLS in Rosemount. Closed sales are also down 8.9%, with 235 properties closing so far in 2008. The average sales price is down from $281,956 to $246,189, a whopping 12.7%! The percent of original list price received at the time of sale is down 2.2%, from 95.8% to 93.7%. This number seems to be pretty similar to most areas here in the Twin Cities. Average days on the market until sale went from 137 to 151 days, which is up 10.2%.

Closed sales this August compared to last August seems like a significant drop, but when the whole year is taken into account, it hasn't changed too much year over year. Average sales price is down a fair amount, but that just means this is a great time to buy in this area. Like you haven't heard that enough, right :)? There are also less houses going onto the market this year in Rosemount. Most likely people are holding onto their properties until the market prices pick up again. If you're currently looking to buy in the south metro, Rosemount is a great option!

Cottage Grove homes

noreply@blogger.com (Ryan O'Neill) — Fri, 19 Sep 2008 21:27:00 +0000

Cottage Grove, MN Real Estate Market Update - September 2008

Today we're going to look at Cottage Grove and the real estate trends in the area. Cottage Grove is a nice city on the "other side of the bridge" from the Twin Cities. It is only about a 15 minute drive from St. Paul or to the MSP airport. Also, just about 30 miles south of Cottage Grove is the Treasure Island Casino that has great food, gambling, and entertainment. Many young people might know Cottage Grove for The Rodeo, The Rush, or even The Gold Rush: the county western night club which recently closed down. This great city has many outdoor sport facilities and plenty of trails and restaurants/shopping. It has all you need and you're still close to the cities as well!

First, we'll look at August of 2007 compared to the month of August in 2008. For the city of Cottage Grove, new listings put on the MLS were up by 4.1%, with 76 properties going onto the market. Closed sales increased significantly (22.9%), with 43 listings closing in August of 2008. The average sales price in August went down 5.6% from last August, going from $228,353 to $215,606. The percent of original list price received at the time of sale dropped by 1%, going from 95.9% to 94.9%. The average days on the market actually went down 1.2%, from 107 to 105 days! The overall active inventory level for single family homes in Cottage Grove is down 13.9%, from 223 to 192 listings. The townhome and condo inventory level is up 1.5, with 68 properties on the market in August of 2008.

Next, let's look at January through August of 2007 compared to January through August of 2008. There has been a 1.7% drop in new listings put onto the MLS in Cottage Grove. Closed sales are up 9.6%, with 285 properties closing here in 2008. The average sales price is down 9.1%, from $243,969 to $221,723. The percent of original list price received at the time of sale is down 1.8%, from 96% to 94.3%. Average days on the market until sale are up 23.1%, going from 118 to 145 days.

What does this mean for Cottage Grove? Well, the biggest changes are "days on the market" are averaging about a month longer than last year's numbers, and closed sales are up greatly, which is very encouraging for sellers!! Cottage Grove real estate is priced very fairly and buyers can get a pretty good deal out there. If you're looking to buy in Cottage Grove, Adam Benedict on our team (a native of Cottage Grove) knows the area extremely well.

Maple Grove homes

noreply@blogger.com (Ryan O'Neill) — Tue, 16 Sep 2008 22:16:00 +0000

Maple Grove, MN Real Estate Market Update - September 2008

Let's talk real estate activity numbers for Maple Grove. Just north of Minneapolis, this city has a great blend of urban and rural living. Here people not only enjoy the best of the big city, but also a more relaxed lifestyle as well. There is a great farmer's market every summer that attracts many people as well as plenty of shopping, dining, entertainment. And let's not forget the great freeway access to anywhere you want to go!

Let's first take a look at August of 2007 compared to the month of August in 2008. For the city of Maple Grove, new listings put on the MLS were down this August by 4.3%, with 179 properties going onto the market. Closed sales decreased by 24.3%, with 109 listings closing in August of 2008. The average sales price in August dropped from $319,359 to $304,323. This is only a 4.7% year over year drop. The percent of original list price received at the time of sale dropped by 0.6%, going from 95.5% to 94.9%. Unfortunately, the average days on the market is up 53.8%, from 87 to 134 days! The overall active inventory level for single family homes in Maple Grove is down 0.8%, from 394 to 391 listings. The townhome and condo inventory level is up 13.1%, with 268 properties on the market in August of 2008.

Now when we take a look at January through August of 2007 compared to January through August of 2008, there has been a 3.3% drop in new listings put onto the MLS in Maple Grove. Closed sales are down 13.3%, with 605 properties closing here in 2008. The average sales price is down 6.8%, going from $333,840 to $311,178. The percent of original list price received at the time of sale is down 2.2%, from 95.9% to 93.8%. The average days on the market until sale are up from 111 to 144 days, an increase of 30.3%.

In conclusion, the Maple Grove market has stayed pretty consistent as far as sales prices. With only a 6.8% year over year drop, people are still getting a good price for their homes when selling. However, the sharp increase in days on market (53.8%!!) and decrease in closed sales may keep some from wanting to sell their home in Maple Grove right now. It might take a bit longer in this market to sell, but the buyers are out there. There were 605 sold homes sold just in Maple Grove this year which means the properties are selling, just not as quickly!

University Area - Minneapolis Real Estate

noreply@blogger.com (Ryan O'Neill) — Thu, 11 Sep 2008 21:19:00 +0000

University Area of Minneapolis, MN Real Estate Market Update - September, 2008

Today, we will explore market trends in the University area of Minneapolis. This is appropriate now since school is back in session and the city is alive with people and fun fall activities! The University area of Minneapolis not only has some outstanding and unique homes, townhomes, and condos, but is an awesome location as well. And if you love being in the city where there are lots of fun activities, shopping and nightlife to offer, this would be a great place for you! Let's take a look to see what is happening with the real estate numbers near the University of Minnesota in Minneapolis.

First comparing the month of August in 2007 to the month of August in 2008, there was a drop in new listings put on the MLS by 37% this August. 17 properties went active onto the market. 17 properties closed in August of 2008, down from 21 in August of 2007. The average sales price dropped 12%, going from $224,841 to $197,900. Great for you as a buyer! The percent of list price received at the time of sale did in fact drop by 5.2%, going from 97.2% to 92.1%. Average days on the market is up 52.3%, going from 60 to 92 days, but still a very short time on the market as opposed to most other areas (mostly due to the time of year.) The single family home inventory level in the University area was at 30 this past August, compared to 38 in August of 2007, a 21.1% drop. The townhome and condo inventory level is up by 37.8%, going from 42 to 62 active listings!

Now looking at January through August of 2007 compared to January through August of 2008, there have been 18.3% less properties put on the MLS this year. 187 listings have gone active here in 2008. Closed sales unfortunately are also down 29.9%, going from 97 last year to 68 this year. The average sales price has also decreased by 17%. In 2007, the average sales price in the University area was $267,699. Now in 2008, it is $222,316. The percent of original list price received at the time of sale dropped by only 1.9% from 95.2% to 93.4%. There's some good news for sellers! Lastly, the average days on the market increased, moving from 106 to 136 days.

In conclusion, the University area of Minneapolis, like many parts of the Twin Cities, has seen a sizable decrease in new listings put onto MLS this year. In addition, closed sales are down as well and so is the average sales price. There is not a great inventory of single family homes in this area, but a greater inventory of townhomes and condos makes it great for students and young professionals just getting started with prices that are reasonable! It is truly a great time to buy in the University area!

St Louis Park homes for sale

noreply@blogger.com (Ryan O'Neill) — Sun, 07 Sep 2008 17:56:00 +0000

St Louis Park Monthly Real Estate Market Update - September, 2008

At the end of July, we took at look at some market statistics for the Minneapolis suburb of St Louis Park. These numbers were year over year comparisons through the end of June. In today's blog entry, we wanted to see what took place in July as well as compare year to date sales numbers.

Let's first take a look at July of 2007 compared to the month of July in 2008. Closed sales in for homes in St Louis Park decreased 33.7%, going from 92 to 61. New listings that were processed and put onto the MLS also decreased from 143 to 103. The average sales price for a home in St Louis Park rose from $246,709 to $254,801. The percent of original list price received at the time of sale dropped 2.8%, going from 96.2% to 93.5%. Average days on market for a property in St Louis Park rose from 89 to 93 days. The overall inventory levels for homes in St Louis Park for sale dropped 4.1%, from 222 to 213 listings. The townhome and condo market in St Louis Park also saw a drop of 13.7% in active listings for sale, going from 182 to 157.

Now when we take a look at January through July of 2007 compared to January of July in 2008, new listings are down by 21.2%. 831 properties have gone on the market this year in St Louis Park. Closed sales unfortunately are also down by 23.4%, with 334 properties closing this year. The average sales price for a property in St Louis Park has actually increased by 0.3%, going from $247,979 to $248,804. The percent of original list price received at the time of sale decreased by 1.6% from 96% to 94.5%. Average days on market for a listing in St Louis Park is up by 13.9% this year, going from 102 to 116 days on market.

Compared to our blog post for St Louis Park at the end of July, the numbers seem eerily similar. The average sales price has stayed level. Compared to the entire Twin Cities real estate market however, days on market for a home in St Louis Park is still considerably lower. Even at 116 days this year, this number is surely encouraging for homeowners in this great suburb of Minneapolis.