Wednesday, January 16, 2013
Realtors say 2012 has been, and 2013 will likely continue to be, the closest thing to a boom market the Twin Cities region has seen in almost a decade.
Follow Eagan Patch on Twitter | Like us on Facebook | Sign up for our daily newsletter | Blog for us Please, someone, plant a “For Sale” sign in front of your house! Realtors say 2012 has been, and 2013 will likely continue to be, the closest thing to a boom market the Twin Cities region has seen in almost a decade: Prices are up—in some cases, spectacularly—the average amount of time homes spend on the market is way down, and the number of foreclosures, which tend to depress prices overall, has fallen considerably. Now, all the market needs is more sellers. “We’re very encouraged by the recovery we saw in 2012,” said Andy Fazendin, president of the Minneapolis Area Association of Realtors (MAAR), at a Friday news conference to announce …
Tuesday, October 16, 2012
The median sale price for a home in Eagan during the month of September was up 9.5 percent from the same period last year.
Follow Eagan Patch on Twitter | Like us on Facebook | Sign up for our daily newsletter | Blog for us The Twin Cities region as a whole is experiencing the closest thing it’s seen in a long while to a “boom market”—or it would be, at least, if more homeowners were willing to post a 'For Sale' sign. Andy Fazendin, president-elect of the Minneapolis Area Association of Realtors, said the median sales price across the 13-county area in September was $174,000, up 12.3 percent from the same month a year ago. In addition, homes spent an average of 101 days on the market, selling 28.7 percent faster than last year at this time. Sellers received, on average, 94.8 percent of their list price, 4.1 percent more than in September 2011. Eagan's housing …
Tuesday, September 18, 2012
In Eagan, the median sales price for homes sold in the first eight months of 2012 is up 10.1 percent compared to the same period in 2011.
Follow Eagan Patch on Twitter | Like us on Facebook | Sign up for our daily newsletter Real estate is on the rebound. The Minneapolis Area Association of Realtors (MAAR) announced last week that for the sixth consecutive month, local real estate prices were up in August on a year-over-year basis. The median price, regionwide, was up 15.5 percent from the same month last year, to $179,000. And the average sales price was $222,922, up 10.4 percent and marking the seventh consecutive month of annual increases. Even in the boom period from January 2003 to January 2004, median prices in the Twin Cities area were only increasing by about 7 percent a year. In Eagan, the median sales price for homes sold in the first eight months of 2012 stands at…
Monday, July 16, 2012
In Eagan, the median sales price has risen 6.4 percent so far the year. The number of homes sold in the city so far this year has also increased substantially over the first half of 2011.
Follow Eagan Patch on Twitter | Like us on Facebook | Sign up for our daily newsletter In Eagan and across the region, the market is finally starting to tilt in favor of sellers, rather than buyers. So far this year, the median sales price of homes in Eagan has risen 6.4 percent, and the number of homes sold rose 12 percent compared to the same period last year, according to quarterly market statistics provided by the Minneapolis Area Association of Realtors. The association tracks trends in the real estate industry and releases monthly reports for communities across the Twin Cities area. A total 410 homes were sold in Eagan during the first six months of 2012, compared to 366 for the first half of 2011, the report said. The median sales …
Monday, April 16, 2012
The number of closed sales is rising, while the inventory of available homes decreases.
Area Realtors reported Wednesday that residential real estate prices across the Twin Cities region are on the rebound; the median price of homes sold in March was up 6.4 percent from the same month last year—the first such year-over-year increase since October 2010. In Eagan, the median sales price of homes climbed to $172,000 so far this year, a 9.2 percent increase over the median sales price for the same period in 2011. The median sales price in March alone for Eagan homes was up 15.6 percent compared to March, 2011, according to a report from the Minneapolis Area Association of Realtors. The number of closed sales in Eagan has risen 35.7 percent so far this year, whole the percentage of the original listing price received also …
Sunday, March 18, 2012
The local housing market is off to a warmer start this year, according to the Minneapolis Area Association of Realtors.
In the first two months of 2012, nearly 100 homes sold in Eagan—a 35.7 percent jump from the same period last year, according to the most recent market report from the Minneapolis Area Association of Realtors. Buyers closed on 95 homes in January and February, and the median sale price for homes in Eagan rose more than 2 percent, to $175,500. The months supply of inventory of homes in the Eagan market—an indicator of local supply and demand—shrank by more than 50 percent, from 6.8 to 3.3 months. Eagan's trends are reflected in the regional market; the number of closed sales in the Twin Cities so far this year has increased 20 percent when compared to the same period in 2011. The total inventory of homes for sale shrunk from 22,940 in …
Thursday, January 12, 2012
Year-end local market reports are optimistic, thanks in part to a dramatic decline in the supply of available homes.
For the last several years, the local and regional housing markets have been flooded by an oversupply of available homes—many of which were foreclosures or short sales. But that may soon change, according to industry experts, who say that inventory levels are finally starting to bottom out, thanks to stronger home sales in 2011. In 2010, a total of 649 homes were sold in Eagan, according to the year-end Local Market Update report issued by the Minneapolis Area Association of Realtors. But last year, that number rose dramatically, eventually hitting a total of 796 closed sales. As a result of the growth in closed sales, the inventory—or supply—of available homes in Eagan shrank by nearly 40 percent in 2011, according to the association's …
Tuesday, January 10, 2012
Through Nov. 2011, a total of 713 homes have sold in Eagan, a 20 percent increase over the same period in 2010.
The good news for Eagan home owners looking to sell their property? Buyers purchased more local homes in the first 11 months of 2011, compared to the same period in 2010. The bad news for home owners looking to sell? The average sales price for those homes dropped 7.5 percent, from $208,141 in the first 11 months of 2010 to $192,522 in the same period in 2011. It's a trend that's playing out on a regional level, according to the Minneapolis Area Association of Realtors, which releases regular real estate reports for communities in the area. The reports include the number of closed sales, average sale price of homes and other information. Across the Minneapolis-St. Paul metro area, the average sales price for homes through Nov. 2011 …
Thursday, November 17, 2011
Increasing home sales and decreasing listings are creating a downward spiral of inventory. But professionals say it's not fair to call it a buyer's market yet.
According to new figures released by the Minneapolis Area Association of REALTORS® (MAAR), the Twin Cities housing market continued to see its inventory of available homes drop at breakneck levels in October. The number of properties currently available in the Twin Cities metro area has dropped to 21,145, the lowest October mark since 2004 and a decline of more than 6,000 listings from this time last year. Eagan figures mirrored the area-wide figures experiencing a 32.6 percent decline in October, 2011 inventory as compared to October 2010. According to the MAAR report, there were 312 homes available for sale in Eagan this October compared with 463 last year. The drop in supply is due to a combination of weak seller activity and strong …
Thursday, August 11, 2011
New report shows increase in sales closed and median home price, but new listings were down in July.
A new report shows home sales in Eagan increased last month, but new listings are down. The Minneapolis Area Association of Realtors released a report measuring year-over-year local home sales. Eagan real estate agents closed on 61 homes last month, compared with 51 homes closed in July last year. That's an increase of almost 20 percent. The median price of a home sold increased almost 6 percent, too -- from $175,000 last July to $185,000 last month, according to the report. Fewer people are putting new homes on the market, though. New listings were down 16.3 percent -- from 123 last July to 103 last month, the report shows.