The City of St. Francis, MN | Market Update

For every appraisal it's important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done). The MLS indicates that prices for the city of St. Francis, MN remained stable for the month of May, and have increased year to date. This is for all types of properties that have sold within the city of St. Francis, MN. This is not what is happening for split entry/level design homes over the past 12 months (see below) in the selected neighborhood area.

The data for this market update is based on the above search criteria over the past 12 months.


The homes that were selected for this trend line were all single family split entry/level design homes within the city of St. Francis, MN for the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be stable as indicated by the chart above. Distressed sales (Bank REO's & Short Sales) are considered a major factor in the market, and they make-up approximately 80% of the sales. The decline in inventory levels (31%) will have a positive impact on values.

 

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Posted by Michael S. Bolton-MN Appraiser on 06/25/2012 12:27 PM   Comments (11)   in the ActiveRain Channel  
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Michael S. Bolton-MN Appraiser

Zimmerman, MN

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Michael S. Bolton,Inc.

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