Thursday, April 12, 2012
The number of closed sales fell short compared to last March, but Apple Valley homes sales for 2012 thus far still outpaced first quarter 2011.
The real estate downturn may be nearing an end in the Twin Cities area if the newest numbers are any indication. The Minneapolis Area Association of Realtors released statistics this week that show residential real estate prices across the Twin Cities region are on the rebound; the median price of homes sold in March was up 6.4 percent from the same month last year—the first such year-over-year increase since October 2010. In Apple Valley, the news on the home prices front has looked similarly promising during February and March this year. The median sales price for March this year was up 5.8 percent from the median sales price in March 2011—$140,737 compared to $133,000 a year ago. In February, it exceeded the February 2011 mark by nearly…
Monday, February 20, 2012
The number of closed sales this January, however, was higher than last January.
The median sales price for Apple Valley homes continued to fall during January, after ending 2011 at a decrease of more than 15 percent over the end of 2010. Apple Valley landed at the same $150,000 median home sales price as the Twin Cities area at the end of 2011, but by the end of January 2012, that price fell to $142,050, according to new statistics from the Minneapolis Area Association of Realtors. January's median sales price also was below December's, which was $147,125. In January 2011, the median sales price for Apple Valley homes sold was $163,550. The Apple Valley real estate market did experience an increase in number of closed sales compared to last January—47 this year, compared to 35, an increase of more than 34 percent. …
Thursday, January 12, 2012
Realtors advise that the last piece of the housing market recovery will be an increase in sales price because of low inventory.
Overall, the Twin Cities real estate forecast is still chilly, but there are at least a few rays of sunshine poking through the clouds. In 2011, the median sales price of homes in the 13-county Twin Cities region fell to $150,000, down 11.7 percent from the already depressed levels of 2010. (The area’s median sales price peaked at $230,000 in 2006.) Rosemount's median home sales price was a little bit above the Twin Cities average for the year at $170,000, according to new statistics from the Minneapolis Area Association of Realtors, but got there after an 11 percent price decrease. However, December's median sales price in Rosemount was closer to the Twin Cities average, at $154,000 among 29 closed sales. Inventory, however, fell a …
Realtors say the last piece of the housing market recovery will be an increase in sales price because of low inventory.
The Twin Cities real estate forecast is still chilly, but there are at least a few rays of sunshine poking through the clouds. In 2011, the median sales price of homes in the 13-county Twin Cities region fell to $150,000, down 11.7 percent from the already depressed levels of 2010. The Twin Cities’ median sales price peaked at $230,000 in 2006. Apple Valley landed at the same $150,000 median home sales price on the year, according to new statistics from the Minneapolis Area Association of Realtors, but got there after an even greater 15.3 percent price decrease. December's median sales price in Apple Valley was even below that, at $147,125 among 42 closed sales. The current median-value home price in Apple Valley is $197,800. Inventory in …
Friday, November 18, 2011
Closed sales for the year to date exceeded last year's by 88 at the end of October, though the year-to-date median sales price remains lower.
The number of closed sales on homes in Apple Valley during October 2011 more than doubled from the number that sold in October 2010, according to the latest report from the Minneapolis Area Association of Realtors. There were 86 closed sales this past month, compared to 40 in October last year. That brings the year-to-date total of closed sales to 612, ahead of the 524 by October 2010's end. October's 86 closed sales also were above September's 59 closed sales (which also beat September 2010, at 53). In contrast to last month's figures, the median sales price in October actually was higher than during October 2010, but by less than $2,000. In September, the median home price was about $26,000 less than in September 2010. Year to date, …
Saturday, November 12, 2011
The housing situation in Rosemount mirrors what's happening in the Twin Cities metropolitan area: fewer houses available because of the number of foreclosures and short sales.
The number of homes for sale in the Twin Cities continued dropping at “breakneck levels” last month, according to statistics compiled by the Minneapolis Area Association of Realtors (MAAR). The number of properties available in the metropolitan area last month hit its lowest level since 2004. “It’s not an encouraging situation,” John Elliott, a real estate agent at Rosemount’s Easy Street Realty, said Friday. “I’ve been around for four recessions, and this one’s worse than the other three put together.” The reason for the low numbers, according to Elliott: “People who aren’t under distress are not selling. “In other words, [the number of] what we call market-rate homes [is] going down faster than foreclosures and short sales are going up. …
Saturday, October 15, 2011
Home sales prices through the third quarter of 2011 are down compared to this time last year.
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…
The latest Minneapolis Area Association of Realtors report indicates the housing market, including in the Rosemount area, is beginning to balance out.
The housing market is moving in a positive direction toward improvement, according to the latest Minneapolis Area Association of Realtors (MAAR) report. "Sellers listed 5,562 new homes on the market, down 16.8 percent from last year. Buyers entered into 3,752 purchase agreements, up 37.4 percent over September 2010 levels. That's the fifth consecutive month of double-digit, year-over-year gains in buyer demand—primarily driven by slowed activity at this time in 2010," MAAR said. MAAR also reports that the market is experiencing the largest inventory decline in more than seven years. Rosemount data shows similar trends. "A leaner inventory count combined with stronger purchase demand has moved the market toward balance," MAAR said. "The …
Wednesday, August 17, 2011
After July, the number of closed home sales so far this year nearly matches 2010, but the July and year-to-date median sale prices are below where they were last year.
The number of closed sales on homes in Apple Valley during July well outdid the sales from July 2010, according to the latest report from the Minneapolis Area Association of Realtors. Closed sales on homes during quarter two of 2011 lost the pace they had built during quarter one, according to statistics released last month. But the 63 sales closed this July—compared to 38 during July 2010—brought the year-to-date sales within nine homes of where the city sat at the end of July 2010, with 378 this year and 387 last year. Median home prices, however, declined during July. The $149,900 median sale price this year for Apple Valley homes as of the end of July was also lower than the median sale price during June this year, which was $167,900. …
Tuesday, July 19, 2011
During the first quarter of 2011, home sales exceeded those during the first quarter of 2010, but by the end of June they had fallen behind last year's quarter-two numbers.
After optimism from some realtors at the end of quarter one that the Apple Valley and Twin Cities housing markets would pick up a bit this summer, recent real estate numbers for Apple Valley again show declines in most categories to date during 2011, as compared to the first half of 2010. And whereas the bright spot a few months ago was that closed sales during quarter one exceeded those in quarter one of 2010 by 14 percent—with 129 this year, compared to 113 last year—by the end of quarter two, the year-to-date closed sales lagged behind the first half of 2010 by nearly 11 percent, with 312 closed sales in the first half of this year compared to 349 last year. In March, closed sales exceeded March 2010 by almost 32 percent, with 62 as …
Scott Fagerstrom
2:26 pm on Sunday, April 15, 2012
Great to see the median price finally turn around; the dropping number of days it takes to sell a home there is even more impressive. Wonder if it's time to start looking again? more ›