Minnesota Real Estate Blog
by Ryan O'Neill, Co-Host of The Minnesota Real Estate Talk Show
Maplewood MN homes for sale
Maplewood, MN Real Estate Market Update - November 2008Maplewood 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
Medina, MN Real Estate Market Update - November 2008Medina 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
Roseville, MN Real Estate Market Update - November 2008Roseville 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!
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