Tara O'Brien's Minneapolis Real Estate Update: February 2010

Beautiful Four Bedroom Home in Robbinsdale / 3920 Hubbard Ave. N


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Map 3920 Robbinsdale

Map 2550 Long Lake Road

The Twin Cities housing market in early 2010 looks pretty much like it did in early 2009. How similar? Over the last three months, there have been 7,189 signed purchase agreements; there were 7,186 a year ago during the same time period. Eerie, no? Robotic precision.

For the week ending February 13, there were 711 pending sales, down 2.7 percent from last year, and new listings posted 1,764 units, up 4.9 percent from a year ago. The only thing that's really changed much is the supply of available homes, which continues to dwindle relative to a year ago. The current stock of 22,271 available homes represents a 12.4 percent decline from a year ago.

From: m;lsrealtor.com

The Twin Cities housing market at the beginning of 2010 continues to look similar to the Twin Cities housing market at the beginning of 2009. There were 1,848 new listings for the week ending February 6, a 3.8 percent increase from the same week last year. On a similar track, there were 780 pending sales for the same week, 4.7 percent above last year.
With supply dropping—now at 5.5 months of availability—it may be that potential buyers are all too familiar with the inventory they have to choose from, especially in the lower price ranges where sales have been through the roof in the last year and inventory has dropped quickly.

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Cute, tastefully decorated three bedroom two bath home in a great neighborhood. Vaulted ceilings, sky lights in nice size kithchen. Large rooms throughout finished basement and two car detached garage.

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www.2550LONGLAKEROAD.COM


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New eat-in Kitchen with island and
new appliances. New carpet, windows
flooring throughout plus fresh paint.
Finished (livable) basement. Custom tile work and wall removed to open livingroom.
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http://www.robbinsdalehome.com/

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Nicely Updated 2 bedroom Townhouse. Large deck off Living room. Large Bedrooms, huge family room. Quick acess to Highways, A must see!
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Adorable three bedroom one bath home in great neighborhood. New kitchen cabinets, new flooring, window and countertops. Original hardwood floors just refinished. Huge front porch. Two car garage, insulated, finished and can be heated. Basement is ready to be finished.
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WWW.3446LYNDALEAVENUE.COM

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Minneapolis condos, downtown minneapolis condos, minneapolis lofts, Uptown, Warehouse District, 710 Lofts, Washburn, Stone Arch, North Star Lofts, Whitney, Zenith, Bridgewater, Cobalt, Carlyle, Falls Pinnacle, Flour Sack Flats, Phoenix on the River, Larive, River West, St Anthony, Grant Park, Eat Street Flats, 720 lofts, Bookman Stacks, Skyscape, Bridgewater, Zenith, Itasca, IMS Lofts, Chicago Lofts, Edgewater, Lumen on Lagoon, Tower Lofts, Harvester Lofts, 730 Lofts, North Star Lofts, Whitney Lofts, Stone Arch Lofts, Washburn Lofts, Bridgewater, 5th Ave Lofts, Rock Island Lofts, Condo, Loft, Mill District, North Loop, Warehouse District, Elliot Park, Loring Park, St Anthony Main, Northeast, River, City, Downtown, Minneapolis

Beautiful four bedroom four bath four level split home in wonderful neighborhood. Vaulted ceilings, french door leading into 3rd bedroom. Large rooms thoughout, natural woodwork, tastefully decorated. Gas fireplace in walkout familyroom. Main floor laundry, three car garage.

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http://www.5801-158thavenue.com/

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As winter continues its streak of cold and snow, sales activity in the Twin Cities housing market is moving along at a pace you'd expect for the season and at about the same pace as a year ago. Pending sales for the week ending January 30 came in at 650, down very slightly from the mark of 673 seen during the same week last year. Over the last three months, there have been 7,038 signed purchase agreements, up a sliver-sized 0.7 percent from a year ago.
Despite the tax credit being made available to current homeowners, new listing activity has yet to show any noticeable jump. The 1,584 new listings for the most recent reporting week represent a dip of 3.1 percent from a year ago. Total inventory of available homes is still down from last year by 16.5 percent.
In related news, Days on Market Until Sale is still dropping while the Percent of Original List Price Received at Sale is still growing. While that's good news on both fronts for home sellers in general, different price points and neighborhoods are experiencing dramatically different market conditions.
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