Apple Valley Home Sales Slightly Beat 2010 Through Q3; Prices Decline

The number of closed sales on homes in Apple Valley during through September this year are ahead as compared to this time last year, according to the latest report from the Minneapolis Area Association of Realtors.

Sales in September 2011 compared to September last year, however, did not rival the increase in sales in August 2011 over August 2010.

Year to date, 7.6 percent more homes have sold in Apple Valley compared to the year-to-date figures from last year at this time—that's 521 homes so far, compared to last year's 484.

But while August's sale numbers were 75 percent higher than in August 2010 (77 sales versus 44 sales), September's comparison is closer—59 closed sales in September 2011, 53 sales in September 2010.

Median home prices continued to decline month over month, and are still in a slump compared to where they were last year at this time.

The $148,000 median sale price for Apple Valley homes as of the end of September was about 15 percent lower than September 2010; it was also lower than the median sale price during August this year, which was $153,000. The year-to-date median sale price—$149,900—is nearly 19 percent lower than the $184,000 through September 2010.

The median home sale prices in Apple Valley continue to be less than the Twin Cities region median sales price.

New listings were down almost 24 percent compared to September 2010, and the year-to-date figures show about 12 percent fewer new listings compared to the same time last year.