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Michael Garellick Average kist Price Here are average listing prices for homes in selected areas of the Twin Cities Market as of August 2006. �Iho��llsl�s �5rx5.�73 h1E OMAlnnea olis $235, 79 9��k1 OPFPRTUNITY M Valli $391.104 Fl NA $385.2 Hlbbml 1C41 — W3� 510 Edlm 565 .E Mirineponkp 34 50,53 SL LOLMLS Park X274,7415 $474 38:5 C--den R -mirie MendGla,Ul dale x49'f ?�Ll� B9 4�0 $�avi le $272,195 A le Valle $291)1232 _ Whi a Bear Lake $4011,4112 pownlovwn SC. Pahl $361,39.9 Como and $3:35521. � �, PROsevift x Fm& view , ' (From the Minneapolis Board o i Realtors) Michael Garelick I Real Estate Report Real Estate Overvie� w: The times, they are a- changing... 321000_ single family homes are for sale in the 13- county Twin City area.. • 31 of these are condos, twin homes or townhouses... 10.000 condos are in various phases of planning or construction in the same areas. ..7.4 months is how long it would take to sell the current supply of homes compared to 3 months a year ago ... the biggest supply is new twin homes. It would take 15.7 months to sell that inventory...The ranks of millionaires swelled to 8.7 million worldwide last year, exceeding the population of New York City. About 40% or 2.6 billion people live on less than $2.00 a day, according to the World Bank... The rambler or ranch houses popular in the 1050T6 are once again in favor... Baby Boomers do not like steps... Eden Prairie made Money magazine's Top Ten List of Best Small Cities..:;�jCj million will be the number of people in the United States this fall... A baby is born every F5 seconds, someone dies every .I 5 seconds... ; =rX. Hispanic share of the population, expected to reach 25% by 2040... The biggest sales declines occurred in states that had the hottest markets in 2005. Sales fell 25.9% in Arizona, 25.7% in Florida, 25.3% in California, 23.47% in Nevada... The apartment vacancy rate has dropped to 4.8% in the seven county metro area. That's down from 6% for the same time last year... The highest vacancy rate in recent years was 7.6% in 2003, a sharp contrast to the rate of 1,5% six years ago. (over) U A EQVAL KYA+ k REALTOR' OPFPRTUNITY Michael Garelick I Real Estate Report Real Estate Overvie� w: The times, they are a- changing... 321000_ single family homes are for sale in the 13- county Twin City area.. • 31 of these are condos, twin homes or townhouses... 10.000 condos are in various phases of planning or construction in the same areas. ..7.4 months is how long it would take to sell the current supply of homes compared to 3 months a year ago ... the biggest supply is new twin homes. It would take 15.7 months to sell that inventory...The ranks of millionaires swelled to 8.7 million worldwide last year, exceeding the population of New York City. About 40% or 2.6 billion people live on less than $2.00 a day, according to the World Bank... The rambler or ranch houses popular in the 1050T6 are once again in favor... Baby Boomers do not like steps... Eden Prairie made Money magazine's Top Ten List of Best Small Cities..:;�jCj million will be the number of people in the United States this fall... A baby is born every F5 seconds, someone dies every .I 5 seconds... ; =rX. Hispanic share of the population, expected to reach 25% by 2040... The biggest sales declines occurred in states that had the hottest markets in 2005. Sales fell 25.9% in Arizona, 25.7% in Florida, 25.3% in California, 23.47% in Nevada... The apartment vacancy rate has dropped to 4.8% in the seven county metro area. That's down from 6% for the same time last year... The highest vacancy rate in recent years was 7.6% in 2003, a sharp contrast to the rate of 1,5% six years ago. (over)