Home Prices in Minneapolis 55410 in February 2016
Home Prices in Minneapolis MN 55410 for February 2016
Real estate market data for Minneapolis MN 55410 provided by Marzena M. Melby of Coldwell Banker Burnet Realty.
Minneapolis Home Prices
We have seen flactualtions in home prices in Minneapolis MN 55410 during 2015, but they were mostly increasing due to shortage of inventory. At this point, the real estate market in Minneapolis MN 55410 is fast and do not expect it to slow down anytime soon. If you are considering buying a home you can still find deals on a house in Minneapolis but having a good real estate agent who understands the market is a must. Don’t wait on the sidelines for too long, many of our listings are starting to sell within a few days of hitting the market. As you can see from the graph below, listings are not selling exactly for asking price. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Minneapolis home on which you are making an offer.
If you are interested in how much current inventory is on the market in Minneapolis you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Currently in this area of Minneapolis, homes have a median time of 75 days on the market before they sell. This would suggest that buyers are in a great position to make an aggresive offer on a home. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. Low inventory in Minneapolis has multiple offers coming in on homes similar to what we saw back in 2006. I wouldn't expect home prices to run up quite as fast as they did back then as banks have gotten a lot stricter on lending guidelines and are no longer giving a loan to anyone with a pulse. But low inventory is one indicator that prices should continue to rise.
Minneapolis MN Real Estate Report Summary
34 new listing came on the market, a 47% drop in from same time last year, and a total of 95 active listings.
The median list price for single family homes in Minneapolis MN 55410 is $689,000, a 7.7% increase from a year ago.
The median price per square foot for listings in this area is $207.
Find Homes for Sale in Minneapolis MN
Visit my website to search for homes in Minneapolis MN or to be notified when Minneapolis homes come on the market.
To find out what you home is worth in the current market email me or call 612-267-6798.
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Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Coldwell Banker Burnet Realty, or its other partners or agents.