Real Estate Overview

The Year in Review: Real Estate 2011

Now that 2011 is fully in the books, it’s important to discern which market segments performed well and which encountered additional challenges. This not only sheds light on consumer behavior, but also provides a preliminary look at what 2012 might have in store. For the 12-month period spanning January 2011 through December 2011, Pending Sales in the Twin Cities region were up 10.8 percent overall. The price range with the largest gain in sales was the $120,000 and Below range, where they increased 51.6 percent.

The overall Median Sales Price was down 11.7 percent to $150,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 9.7 percent to $167,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 141 days; the price range that tended to sell the slowest was the $1,000,001 and Above range at 292 days.

Market-wide, inventory levels were down 28.6 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 25.9 percent. That amounts to 0.0 months supply for Single- Family homes and 6.3 months supply for Condos.

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Overview

Housing Supply Overview
November 2011


With 2012 just around the corner, many local markets have enjoyed strong sales volumes combined with falling inventory levels so far this year. For the twelve-month period spanning December 2010 through November 2011, Pending Sales in the Twin Cities region were up 10.1 percent overall. The price range with the largest gain in sales was the $120,000 and under range, where they increased 50.9 percent.

The overall Median Sales Price was down 10.0 percent to $153,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 8.2 percent to $169,900. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 137 days; the price range that tended to sell the slowest was the $1,000,001 and above range at 256 days.

Market-wide, inventory levels were down 23.6 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 20.5 percent. That amounts to 5.7 months supply for Single-Family homes, 4.7 months supply for Townhomes and Twinhomes and 7.7 months supply for Condominiums.
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Click on graph/chart to enlarge

As reported by the Minneapolis Area Association of Realtors.
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For additional information on the current real estate market,
please email or call us:

Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Thank you for visiting and you have yourself a fine day.

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Condominium Row on Lake Harriet

Condo Living on Lake Harriet

Most of the properties located along Lake Harriet Parkway are single-family homes. The exception is a stretch along the west side of the lake. Here one can find a condo in a variety of buildings. These featured here are located on the 4400 block of East Lake Harriet Parkway. There are a few others on the 4300 block of the parkway.

4400-4402-4404 West Lake Harriet Parkway (3 condominiums)

4418 West Lake Harriet Parkway

4430 West Lake Harriet Parkway

4444 West Lake Harriet Parkway

4444 West Lake Harriet Parkway

4444 West Lake Harriet Parkway

If you’re interested in buying or selling a condo, give us a call or send us a note.

Ellen Walsh
REALTOR®
612.220.3304

Kate Walsh
REALTOR®
612.220.3309

Coldwell Banker Burnet
Minneapolis Lakes Office

Housing Supply Overview: February 2011

Housing Supply Overview

Hso_overview_icon

Whenever someone asks you “how is the market,” the most logical response is “for which segments and relative to what?” In the Twin Cities region, the price range with the strongest sales activity was the $1 Million and above range, where sales were up 24.5 percent over the last 12 months. Sales were weakest in the $190,001 to $250,000 range, where sales were down 25.4 percent versus last year.

Inventory in the region has fallen 4.6 percent, led by a decline in new construction. Median Sales Price was up the most in the Single-Family segment with a 2.4 percent gain, while prices for Townhomes and Condominiums both declined.

The price range with the longest Days on Market Until Sale was the $1 Million abd above range, where the average market time was 249 days. The range with the shortest market times was $120,000 and below, all sitting at 118 days on average.
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For additional information, please contact us.

Kate Walsh
612.220.3309

Ellen Walsh
612.220.3304

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Housing Supply Overview

Housing Supply Overview

Hso_overview_icon
January 2011

For the twelve-month period from October 2009 through September 2010, Pending Sales for condo properties increased 12.9 percent and single-family sales increased 2.1 percent.

The Under $100,000 price range, which increased 11.8 percent, outperformed all other price points in terms of sales activity, driven by a huge increase in condo sales compared to the same twelve-month period last year. The $300,001 and above bracket was a close second with a gain of 11.4 percent.

On the other hand, pending sales for properties in the $100,001 to $150,000 range decreased 4.2 percent. Inventory is an important metric to watch these days. The inventory of single-family properties increased 6.9 percent since last year at this time, while condo inventory decreased 7.1 percent.

Additionally, properties in the $100,001 to $150,000 range increased 14.5 percent while those in the $300,001 and above bracket decreased 9.9 percent.Let’s not forget about prices. The Median Sales Price for single-family homes held even with last year at $155,000 and condo prices fell 5.2 percent to land at $128,000.

Learn more about condominium ownership.

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