Laserfiche WebLink
r ♦0 MARKET ANALYSIS <br />I 2004 2005 <br />2006 <br />2007 2008 2009 <br />Top 5 Areas <br />Top 5 Areas <br />Bottum 5 Areas <br />302 MPLS - Central <br />$225 <br />305 - MPLS - North <br />300 - MPLS - Calhoun -Isles <br />$186 <br />301 - MPLS - Camden <br />741- SP- DDValtown Stp /Capaal Hg <br />$178 <br />742 - SP Central <br />385 - Edma <br />$111 <br />370 - Sibley County <br />381 - Lake Minnetonka <br />$167 <br />363 - Brooklyn Center <br />for the 13- caurdy Twin Cities metropolitan area <br />I <br />Sellers began to inch slightly closer to their original asking prices <br />in zoog. While this positive trend took place mostly across the <br />board, things especially improved in the lower price ranges and <br />with foreclosures. Because the tax credit spurred buyers in those <br />segments, heavy demand often meant multiple offer situations. <br />Share of Sales That Were New Construction <br />14.1% 14.3% <br />2004 2005 <br />2006 <br />2007 2008 2009 <br />Top 5 Areas <br />Top 5 Areas <br />Bottom 5 Areas <br />Bottom 5 Areas <br />1000% <br />618 Eastern Dakota County <br />1000% <br />302 - MPLS - Central <br />10% <br />628 Southern Dakota County <br />7000% <br />741 - SP- Downtown Stp / Capital Hg <br />22% <br />605 - Sunfish Lake <br />1000% <br />300 - MPLS - Calhoun -Isles <br />440% <br />713 - Bethel <br />1000% <br />740 - SP- Crocus Hill <br />466% <br />710 - Northeast Anoka County <br />98.9% <br />614 - Apple Valley <br />483% <br />2oog was another slow year for home builders in the Twin <br />Cities. The large -scale builder pullback continued and inventory <br />absorption became the order of the day. Builders are wisely waiting <br />out the current environment and waiting to return when market <br />fundamentals are more attractive. <br />Top 5 Areas <br />302 - MPLS - Central 34 4% <br />141 - SP Downtown Stp /Capital Hg 331% <br />310 - MPLS - University 111% <br />398 - Victoria 110% <br />705 - Lure Lakes /Hug. /Cemoe ll 233% <br />Bottom 5 Areas <br />744 - SP -Como 00% <br />748 - SP -Town &amp, Coun[ry /Mernam 00% <br />618 - Eastern Dakota County 00 <br />378 - Rlchlield 00% <br />528- Southern Dakota County 00% <br />Historical levels of lender- mediated activity are taking place in the <br />Twin Cities housing market. Thankfully, the share of sales that are <br />lender- mediated is exceeding the share of new listings, which has <br />brought the lender - mediated inventory down dramatically since the <br />start of 2009. <br />2004 2005 <br />................. <br />2006 <br />2007 2008 <br />— ._........ .. <br />Top 5 Areas <br />Bottom 5 Areas <br />618 - Eastern Dakota County <br />1000% <br />302 - MPLS - Central <br />628 - Southern Dakota County <br />1000% <br />741 - SP -Downtown Stp /Cap6al Hg <br />605 - Sunfish Lake <br />1000% <br />300 - MPLS - Calhoun -Isles <br />713 - Bethel <br />1000% <br />740 - SP- Crocus Hill <br />710 - Northeast Anoka County <br />989% <br />614 - Apple Valley <br />2009 <br />10% <br />22% <br />440% <br />466% <br />483% <br />Foreclosures and short sales are more likely to be single - family <br />detached homes than they are townhouses or condos. The <br />increased market share of these lender - mediated homes meant <br />that the overall market share of single - family detached homes grew <br />again in 2oog. A pullback on new construction condo inventory in <br />recent years has also played a factor. <br />www.rllplsrealtoacorn 5 <br />Percent of Orig. List Price Received at Sale <br />98.6% 98.2% <br />Share of Home Sales That Were Single - Family Detached <br />79.4% 79.5% <br />