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Foreclosures and Short Sales Skewing Twin Cities MLS Statistics

In the first quarter of 2007, sold homes reported by the MLS were 90% "Traditional Sellers" and 10% "Bank Mediated Sellers" (bank owned foreclosures and/or short sales). In the first quarter of 2008, these "bank mediated" listings comprised more than 27% of the sales. The Median Sales Price of homes sold by Traditional Sellers in Q1 2008 was $220,000, down only 3.9% in the last 12 months, while the Median Sales Price for the bank mediated listings was only $155,000, down a substantial 10.4% in the last 12 months. … [Read more...]


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This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.