Home Prices in Minneapolis

Are home prices in Minneapolis going up?

Are home prices in Minneapolis going up?

It looks like Prices will soon start to Trend Upwards!

The number of sales has increased in the Minneapolis and St. Paul metro areas over the past 12 months, according to the data published in The Thing by the Minneapolis Area Association of Realtors.

The Thing is a powerful graph with various data points which you can control, I find it fascinating to watch the various trends.  Yes, I said fascinating, that is how much of a Real Estate geek I am…

Are home prices in Minneapolis going up?  I see great news in the graphs for our local marketplace.  For example, Apple Valley real estate statistics show a decrease in Median House Prices have declined an additional 5.9% from June 2011 through May 2012.  The decline in Median Price doesn’t tell the full story.

My positive outlook comes from selecting a few additional features on the graph.  Such as:

Number of Closed Sales in Apple Valley from June 2011 to May 2012
Traditional Closed Sales Up 35%
Foreclosure Closed Sales Up 18%
Short Sale Closed Sales Up 27%

Pending Sales reflect the same large increases in the number of sales with a whooping 56% increase in the Number of Pending Sales in Apple Valley compared to last year.

For more information visit the Market Statistics page on our website.  Note that on the left side column you can control which suburb or area the graph shows.  You can also control other factors such as housing type and price ranges.

It’s a wonderful source for Minneapolis real estate information, and real estate information for the surrounding suburbs including Burnsville, Apple Valley, Eagan, Rosemount, Lakeville, Farmington and others.

Let’s hope the trend continues.  I believe we will have a slowing market as summer finishes out and we get into Election Season.  It seems every 4 years when there is a Presidential Election our marketplace holds it’s breath a little.

I do anticipate a very busy Spring Market next year in 2013.  It’s never too early to start preparing your home, let me know if you would like to schedule a quick walk-thru to establish your ‘To-Do’ list for the winter.

We always love hearing from you!


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