No Shortage of Foreclosed Minneapolis Homes for Sale

Filed in Uncategorized by on September 9, 2009 0 Comments

Video provided by the Minneapolis Association of Realtors®

Bookmark these three links and find Minneapolis foreclosures, short sales, and bank owned homes for sale.

What happened on the real estate scene in Minneapolis this summer? Here’s a resource that Realtors use to get a thumbnail sketch of the Minneapolis real estate market for July 2009. If you will watch this video, you will learn that foreclosure properties comprise a large portion of the market. However, more positive than negative trends have been observed.

Here are some highlights of the video:

  • July 2009 figures for pending sales are the best numbers seen since 2005.
  • July 2009 are up 16% from last July.
  • This is the 13th month in a row that has seen an increase in pending sales since the same month last year
  • Pending home sales were up 16% from the previous time since last year.
  • Housing inventory has dropped 22% since the previous July
  • Also observed was the smallest amount of new listings since 2002
  • It will take 7 months to sell off mls Minneapolis real estate inventory, falling from 10.5 months in 2008
  • Days on market average fell to 137 days, meaning a drop of 7%
  • days on market is down 7 percent to 137 days
  • the sale price to list price ratio is actually up from the previous year, coming in 97%
  • lender mediated properities still commprise about 43% of the market
  • New Minneapolis home foreclosures are on the horizon, but the outlook is dramatically improved since last year.

Leave a Reply

Your email address will not be published. Required fields are marked *