Coon Rapids real estate
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.
