Apple Valley and the five cities it borders have consistently increased sales activity over the last three years.
There are a lot of numbers that can be cited to support the particular direction that we feel the housing market is heading. They all have their benefits and shortcomings. For instance, how do we interpret new housing starts? If they increase, is it because there are more apartment units planned for new renters who have lost their homes? Does the median price reflect higher or lower prices for similar property, or could it only be the result of better, bigger, smaller worse condition of property compared to other time periods?
While the numbers I've chosen to use don't suggest that they do more than the obvious, I think that the total residential units sold definitely tells us a lot about relative demand. With that in mind, I'm going to say that things look pretty good in the heart of Dakota County for the direction housing buyer demand has moved.
Data from the Regional Multiple Listing Service of Minnesota indicates that Apple Valley and the five cities it touches, Burnsville, Eagan, Farmington, Lakeville, and Rosemount, together have had an increase in total sold residential units for 2011 that exceeded each of the previous three years. Total units sold in the six cities in 2011 were 3,755, an increase of 17.7% over the 2010 total of 3206, 1.32% over the 2009 total of 3726, and 10.6% over the total of 3413 in 2008.
With stronger economic data for 2012 and better employment trends, expectations for 2012 deserve some optimism. Perhaps we can begin again to believe that the American Dream is not a nightmare after all.