19 Oct Market Watch Update for October 19th, 2011…

Price Changes are the prominent feature in the Market Watch of October 19th, 2011!

South of the River Market Watch

The Market Watch graphs shown below offer a quick look at the various South of the River Suburbs.  Price Changes top the list of activity for all cities except Farmington.

Closed Sales are homes that closed in the past 7 days, however offers on the closed homes came in as far back as 8o days ago.

Pending Sales for the past 7 days kept pace with the closed sales in most of the Cities.  Rosemount showed 14 Pending Homes, the only Suburb with more Pending Homes was Lakeville with 17.

I pulled up the mix of the pending homes for these two areas, Rosemount had 8 distressed properties in their list of 14 Pendings.  Lakeville showed 4 distressed properties in their list of 17 Pendings.

Inventory levels are falling in the Twin Cities metro area, however in the South of the River Suburbs the number of New Listings outpaced the number of Pending sales this past week by nearly 2 to 1, with the exception of Rosemount.

This suggests the level of homes on the market in Lakeville, Eagan, Farmington, Apple Valley, Burnsville, Savage and Prior Lake is increasing.  We will update the Market Watch again next week and trace the trends.

If you have questions, or need more specific analysis of your local marketplace, just give us a call 612.889.6496 or click here to Ask a Question!