Market Update: Princeton, MN (Split Entry Design Homes)

Real Estate Appraiser with Michael S. Bolton,Inc.

The City of Princeton, MN  Market Update

The MLS indicates that prices for the City of Princeton, MN have decreased for the month of December, as well as year to date. The MLS indicates that prices for January (not shown) have increased. This is for all types of properties that have sold within the City of Princeton,MN.

The data for this market update is based on the above search criteria over the past 12 months, which was for the sale of split entry/level design homes.

The homes that were selected for this trend line were all single family split entry/level design homes that sold within the City of Princeton, MN over the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be increasing, as indicated by the chart above. This is opposite for what is happening for the overall market, as indicated by the MLS statistics above. Distressed sales (Bank REO's & Short Sales) still play a factor in the market, and make-up approximately 71% of the sales. The decline in inventory levels (32%) and will have an impact on values.

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Michael S. Bolton

MN Appraiser