Market Update

Golden Valley Market Update (Near Hampshire Park)

There are 31 active single family homes on the market today. There were 2 new listings this past week, and 1 pending home (a bank-owned 5 bed/3 bath listed at $219,000) and none sold. I’m still trying to discern why the Golden Valley market seems to be going so slowly. The inventory is not increasing, currently, probably due to homes expiring or being cancelled, but I’d definitely like to see more activity here.

General Market

Lots of interesting stuff this week. The Business Journal had a great article about the Twin Cities’ market. “Distressed homes made up more than half of the homes sold locally in January,” said Brad Fisher, MAAR president, in a statement. “Buyers tend to shop for value during the winter months, equating to lower prices, while traditional sales begin to warm up with the spring thaw.” That’s good news!

Overall, there are less homes being put on the market today than at this time last year. Condo sales are up drastically (12.9 5), but the values have decreased dramatically (5.9%). Single-family homes in the $100-150,000 range continue stacking up the inventory by 14.5%, but the median price is still holding at $155,000, like last year. Homes over $300,001 have decreased inventory by 9.9%. More information on the current market go to:http://mplsrealtor.typepad.com/theskinny.