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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...]

Great Video for Twin Cities Home Sellers

This is short and sweet, but definitely to the point.  If you're a prospective seller and you're looking for the next step after watching this, give me a call. … [Read more...]

Twin Cities Real Estate Affordability Hits 34 Month High

The Minneapolis Area Association of REALTORS released their weekly market report today with new Housing Affordability Index numbers for December 2007.  The HAI of 141 is the highest we've seen in the Twin Cities since February 2005... nearly 3 years ago.  Falling mortgage rates, with many brokers quoting under 6% for a 30-year fixed), and lower sales prices has improved affordability by over 10% in just 3 months! With mortgage rates and home prices down, the market is starting to look better for 1st time buyers … [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.