Twin Cities Home Sales Fall in September
Rising home prices have led more home sellers to the market, but last month there were not as many buyers.In the month of September there was in an increase of 7 percent in the number of properties listed for sale over the previous month, but a 7 percent decline in the total number of available properties for sale when compared year-over-year.
The good news is that the influx of properties did not reduce the price of homes as we would expect it to, but instead the median price of homes increased by 5 percent to $205,000 last month. The decrease in home sales can be attributed to lower foreclosures on the market.
"This is a healthy trend for the market,” said Herb Tousley, director of the Shenehon Center for Real Estate at the University of St. Thomas’ Opus College of Business. "And I expect this trend to continue into the first half of next year.”
Homes in the Twin Cities area are still selling more quickly than the normal pace. If you are looking to buy or sell a home this fall contact me. Our group specializes in Eden Prairie Real Estate, Chanhassen Real Estate, Chaska Real Estate, Lake Minnetonka Real Estate, Edina Real Estate and West Bloomington Real Estate.
Brace Helgeson Coldwell Banker Burnet
Licensed in Minnesota/Lic # 92065