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Current Market trends for the Edina area!

By
Real Estate Sales Representative with Edina Realty

 

 

 

 With an increased sale price and an increase of pending sales....are we there yet?  Sure feels as though we are getting back to a point of fun in the Real Estate community.  Check out the most recent market information as reported by the Minneapolis Area Association of Realtors.

  

Edina

Hennepin County, MN 2007 2008 Change 2007 2008 Change

New Listings

177 169 - 4.5% 779 715 - 8.2%

Closed Sales

74 48 - 35.1% 247 188 - 23.9%

Average Sales Price

$392,826 $500,258 + 27.3% $473,109 $505,937 + 6.9%

Percent of Original List Price Received at Sale*

96.2% 93.0% - 3.3% 94.9% 93.5% - 1.6%

Average Days on Market Until Sale**

143 134 - 5.7% 153 153 + 0.3%

Single-Family Detached Inventory

269 273 + 1.5% -- -- --

Townhouse-Condo Inventory

214 210 - 1.9% -- -- --

May Year to Date

*Does not account for list prices from any previous listing contracts **City market time figures are based on Cumulative Days on Market, which does account for previous listing contracts

Posted by

Kim Melin

Real Estate Advisor/Edina Realty

952-201-4758