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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11 Comments on Market Update: St. Francis, MN May 2012 (Prices are Stable for Split Entry Design Homes)

JUN
25
587,896 Points

Hi Michael, always enjoy viewing stats and graphs on other Communities...Thanks for sharing with us.
12:28pm • #1
587,113 Points 46 Featured Posts Outside Blog Called Shot Master

Market Update: St. Francis, MN May 2012 (Prices are Stable for Split Entry Design Homes) 

Michael another excellent job my friend.  You leave no area unexplained.  It's been a while since I've seen you in the Rain.  I knew you must be a very busy guy these days.

1:50pm • #2
292,625 Points 20 Featured Posts Outside Blog Called Shot Master

Hey Michael, 80% distress sales is brutal.  It's about 30% in my county.

Your inventory for all property, and Days on the Market have declined and that's a good sign for the future.  Our listings hit record lows about 12 months before we started seeing multiple offers and prices getting bid up.
5:01pm • #3
JUN
26
145,762 Points 17 Featured Posts Called Shot Master

Thanks Ron!

Hi John, Good to hear from, and yes it's been a very busy past few months.

Hey Lloyd, I think our markets biggest challenge is that move-up buyers are stuck; they're upside down on their mortgages and are waiting it out. I'm of the belief that you can't have a healthy market made up of mostly first time entry level buyers-just my opinion.

Have an AWESOME day.

 
4:33am • #4
497,271 Points 29 Featured Posts Outside Blog Called Shot Master

Many markets still have lots of issues, but we will work through them. All markets eventually become very efficent. Once we work through the foreclosures and short sales, the upward trend will go on for a long time.

 
5:27am • #5
653,568 Points 9 Featured Posts Outside Blog Called Shot Master

Most of the great deals in St. Francis have been disappearing so these numbers should continue to improve.
7:11am • #6
633,217 Points 3 Featured Posts Outside Blog Attended Rain Camp

Hello Michael,

A shame that the distressed properties are still such a high percentage of sales for that market.  But as the inventory decreases, home prices will rebound.
2:38pm • #7
1,445,990 Points 26 Featured Posts Outside Blog Called Shot Master

Very good explanation.

Have an outstanding week.
6:02pm • #8
JUL
03
630,902 Points 5 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Hello Michael: Stopped by to wish you a Happy Fourth of July.
6:14pm • #9
AUG
07
122,182 Points 8 Featured Posts

Hey Michael, haven't seen you on your blog in forever. You are probably totally swamped? I hope all is well with you.

God bless!Susanna
9:50pm • #10
AUG
09
145,762 Points 17 Featured Posts Called Shot Master

Hi Susanna,

Things have been unbelievably busy, which is a good thing.

Thanks for stopping by.
4:05am • #11


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Michael S. Bolton-MN Appraiser

Zimmerman, MN

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Michael S. Bolton,Inc.

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