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Twin Cities Home Prices Jump 17.5%


Median Sales Price Another WOW month for the Twin Cities real estate market.  Homes that closed in June sold for a $210,000 median price, a 17.5% increase versus a year ago and an 8.2% increase from the month prior.  The $210,000 median sales prices what the highest since December 2007 - over 5 1/2 years ago. Days on Market Meanwhile the time it takes to sell a home continues to drop dramatically - now at just 74 days - down 34% in the last 12 months.  Many houses are selling in multiple offer in the … [Read more...]

160 $2M+ Homes for Sale in Twin Cities

$2 Million + Homes in the Twin Cities

While the Twin Cities isn't consider the land of the uber-wealthy, there is still a lot of money around here.  Right now we have approximately 160 homes for sale on the MLS that are listed above $2,000,000! While you may not have the financial ability to purchase these homes, it is still fun to look at them, right? Most Expensive Homes for Sale in the Twin Cities   … [Read more...]

June 2013 Twin Cities Housing Market Update


Take a look at this month's video update on the Twin Cities housing market. … [Read more...]

Twin Cities Xcel Energy Power Outage Map


Over 80,000 people in the Twin Cities have no power today, here is Xcel Energy's power outage map - zoom in to find out how many are without power in your neighborhood and when it will be restored.   … [Read more...]

Perception Versus Reality

I recently had a long term blog reader contact me to see some homes.  While they had been reading my articles regularly, when we actually got out into the market and started looking at homes in their price point, they were shocked at just how much the market had changed. In many price points in many parts of the Twin Cities, homes are flying off the market with demand at levels we haven't seen since the housing boom ended in 2005/2006.  Many buyers are being caught off guard in what has been a far sharper … [Read more...]

11951 Castle Rock Ct N, Champlin MN 55316

11951 Castle Rock Ct N

This stunning former model executive 2 story home in Champlin will be listed in the MLS for $415,000 on 5/30/13.  At 3200 square feet above ground and an unfinished basement, the generous room sizes and luxurious finishes make this home one that you have to see.  Anoka-Hennepin schools. Listed by Julie Plumedahl with Edina Realty, 763-569-5682.  The virtual tour has a total of 59 photos, below are just a few: AGENTS: This home has a signed listing contract and a Withhold from MLS has been submitted to … [Read more...]

Twin Cities Buyer Showing Activity


While home sales in the Twin Cities are at 7 year highs, home buyer showings are actually down from last year:   Why are home showings down even though sales are up?  Simple.  Far fewer homes for sale this year means buyers simply have far less to look at. A couple years ago buyers could look at dozens of homes for sale that met their criteria and spend weeks deciding.  Today we often find that there are less than a dozen homes that really match a buyer's wants and they have only days to … [Read more...]

Minnesota Foreclosures Continue Decline

Q1 2013 Sheriff Sales in Minnesota

HousingLink just released their latest foreclosure report showing the strong declines in sheriff sales continues.   Once a sheriff sale has occurred, most properties will be listed by the bank that took it back 7-9 months later.  Consequently, the continued decline of bank owned listings for sale on the MLS is all but certain at this point.  When fewer properties go through foreclosure, neighborhood values are higher and we've seen this trend for over a year now.  This is great news for sellers … [Read more...]

Housing Market’s Virtuous Cycle

The Housing Market Virtuous Cycle

The housing market has come roaring back in many markets throughout the U.S. and some have been questioning whether the surge of activity we're seeing has staying power. In many markets, from 2008 through much of 2012 we saw that nearly half of home sales were of foreclosed or short sale properties.  What we're seeing now is a return back to the Traditional Seller as foreclosure and short sale inventory declines sharply. What's crucial about this return to a more normal market is that in a Traditional Sale, … [Read more...]

Twin Cities Preforeclosure Activity Remains Sharply Lower

Preforeclosures in the Twin Cities

The Minnesota Home Ownership Center released their quarterly preforeclosure notice data and the new is overall very good. Preforeclosure notices did tick up in the Twin Cities in Q1 2013 however the level remains less than half of what it was in the peak of the housing crisis.  Q4 2012 might have been a blip due to the holiday season.  We'll have to see what happens in the current quarter but my belief is that the preforeclosure levels will continue to trend lower as we see the economy improve and fewer … [Read more...]


TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.