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Eden Prairie Homes For Sale-the current market trends

By
Real Estate Agent with Keller Williams Realty Elite RE#: 20560363

Eden Prairie Houses are selling-

In recent weeks we have seen an uptick in active buyers in the Eden Prairie market.  We have put together several deals and have talked with other Eden Prairie Realtors that are seeing the same trend.

Buyers are still looking for value and are demanding market data including sold comps within the past 6 months to justify a decision.  If they cannot substantiate the value of a property they are uninterested in by looking at comps, they will simply not buy.

Eden Prairie and other similar suburbs have seen the amount of homes for sale go up slightly as we move into the cold months, but as a rule prices have stabilized in most neighborhoods

Eden Prairie is one of the locations that seems to have such a diverse job market that the relocation activity will always be evident to some extent.   Relocating buyers prefer to shop for a home in Eden Prairie vs. other suburbs due to its great schools and close proximity to shopping.

Buyers are looking to all factors with resale.  The thought of most of our clients including buyers who have purchased our listings in Eden Prairie and other areas, is that they want to hedge against the downside over the next few years.

Meaning that they want to buy at a little below market value in case the market goes down further over the next few years.

Short Sales in Eden Prairie have continued to rise as home values have remained at about 2001 levels leaving many homeowners without equity.  Most of the conversations we are having with Short Sale candidates are leading toward the fact that its a good business decision to do a short sale vs. hanging on to a property that will cause them to be upside down for many years to come.

Search Eden Prairie Homes For Sale or get info on doing an Eden Prairie Short Sale free and no obligation.  Call 7 days a week at 952 943 1324

Comments (1)

Lynda Eisenmann
Preferred Home Brokers - Brea, CA
Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Joe and Cindy,

Interesting post and the Elden Prairie real estate market sounds pretty normal to me. Your comment about " Buyers are still looking for value..." is true for most anywhere and makes sense to me.

See you around in the Rain!

Nov 28, 2010 02:55 PM