Much like the second quarter, the third quarter of 2009 housing trends continued in the right direction. Over the summer months, sales activity was up in most markets, new and active listings were declining or stabilizing, time on market decreased, and we continued to work through much of the foreclosure inventory, many times with multiple offers. - Information from Bob Peltier, Edina Realty President
The Marketplace Statistics
13-County Metro
According to the Minneapolis Area Association of REALTORS® (MAAR):
* The median sales price in the 13-county metro area in September was $170,000 - down 10.5 percent from 2008. Distressed properties continue to affect overall median sales prices.
* Sept. 2009 traditional median home price: $200,712 (-5.3 percent from one year ago)
* Sept. 2009 median sales price for lender-mediated: $127,000 (-12.4 percent from one year ago)
* YTD 2009, 43.8 percent of closed sales were lender-mediated.
* Q3 2009 closed sales were up 16.6 percent over Q3 2008.
* Q3 2009 active listings were down 20.5 percent from Q3 2008.
* Q3 2009 new listings were down 7 percent from Q3 2008.
* Average days on market were at 129 compared with 145 this same time last year.
Based on information from the Minneapolis Area Association of REALTORS®, Inc. Data collected from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC. for residential properties in the 13-county region exclusively.
