Information is Power

Real estate market conditions in your county and in your neighborhood can vary greatly from the wider Twin Cities area and national statistics.  While some sellers are sitting on the fence because of their perception of the current market-it can be a mistake for many, especially those who are looking to move up to a larger or more expensive home.

Information is Money

When determining a price for your home, it is extremely important to use a REALTOR® who knows your area and evaluates the market conditions for your specific  location.

Converting Information to Wisdom

When you read between the lines, you notice that the farthest out counties - Chisago, St. Croix County, and - have substantially greater declines in the number of homes sold and the numbers for Goodhue County are extreme when compared to the rest of the 13 county metro area.  Yet this phenomena has little to do with the "usual suspects" such as the subprime mortgage mess, foreclosures, or adjustable rate mortgages.  These three counties are the farthest away from the downtown areas in the geographic center of the Twin Cities Metro.  The reason for the additional drop can be attributed primarily to the increase in gasoline prices.  Furthermore, Goodhue County has additional problems due to this summer's torrential floods that damaged many homes and businesses.  Recovery in Goodhue County cannot be predicted based on averages or metro-wide statistics.  Their recovery will rely more on payments from insurance companies, state and federal aid, low-interest emergency loan availability and other factors that are unique to Goodhue County.

 

 

Median Home Prices

Closed Sales

 

comparing

 

 

Oct 2007 to Oct 2006

(Homes Sold)

 

 

 

Combined 13 County Twin Cities Metro Area

 

-3.51%

-17.69%

Anoka County

 

-7.02%

-23.21%

Carver County

 

-21.71%

+15.24%

Chisago County

 

-1.72%

-38.46%

Dakota County

 

-3.40%

-2.01%

Goodhue County

 

+6.71%

-15.38%

Hennepin County

 

+1.74%

-18.35%

Ramsey County

 

-4.96%

-21.52%

Rice County

 

+4.36%

 unchanged

Scott County

 

-6.14%

2-6.71%

Sherburne County

 

-11.85%

-8.93%

St . Croix County

 

-5.60%

-26.32%

Washington County

 

-19.11%

-22.29%

Wright County

 

-6.31%

-26.63%

Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF
MINNESOTA, INC.  For the period of October 1, 2006 thru October 31, 2007

...............................................................................................................................................................

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Patti Ann Kasper, REALTOR®
EXIT REALTY NEXUS
763-498-2088 cell    763-548-1418 office
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This post has been included in Minnesota Real Estate News

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PATTI ANN KASPER, Blaine & North Metro Minneapolis St Paul Real Estate Resource

Blaine, MN

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Address: 2143 Northdale Blvd., Coon Rapids, MN, 55433

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