10/11/2007
Despite repoorts of a 20%+ decline in homes sales in most areas and nationwide compared with home sales last year...we are holding strong in the Longfellow neighborhood.
From 1/1/2006 -10/11/2006 there were:
*283 sold homes.
*Average sale price $227,588
*Average days on market 57.4
*Average of 1336 sq.ft.
*Average of $170.35 per sq.ft.
From 1/1/2007-10/11/2007
*280 sold homes
*Average sale price $229,227
*Average days on market 76
*Average of 1390 sq.ft.
*Average of $164.91 per sq.ft.
So far this year we are operating at 98.9% of last years sales. That a 1.1% decline in sales. Hardly the 20%+ that you hear in the media. Some things have changed. For example, days on market have gone up 18.6 days and the average price per square foot has gone down $5.44.
It will be interesting to see how the rest of the year turns out. We need to get to 369 closed sales to tie last year. My guess is that we'll come close.
Reality: It's still a good market. It does however, require a strong marketing plan to get your home sold for the highest possible price, in the shortest time, with the fewest hassles.
Thanks for reading,
Travis Erickson
612-275-8877
*These statistics are based on all single family type homes and are derived from the Regional Multiple listing Service of Minnesota, Inc. All rights reserved.
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