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
Oct 2007 to Oct 2006
Combined 13 County Twin Cities Metro Area
St . Croix County
Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF