Most observers would agree that this year's housing recovery was not as robust as many had hoped.
That said, a handful of things went right. Supply-side market correction took the guise of inventory declines and a pullback in listing activity. Consequently, sellers generally faced fewer challenges than in the past.
Driven by improvements in the economy and record-low mortgage rates, purchase demand strengthened organically, independent of government incentives.
Those sales gains dovetailed with falling inventories to move the market back toward balance. Nobody knows what 2012 will bring, but it's a safe bet that these positive developments will continue to evolve.
For the month of December: • Median Sales Price decreased 5.6% • Days on Market decreased 2.4% • Percent of Original List Price Received increased 1.8% to 90.6% • Months Supply of Inventory decreased 36.2% to 4.6
The gradual increase in demand for city living is having an impact on home prices. Benefiting the most from property price appreciation over the past five years are the core cities of Minneapolis and St. Paul. Next in line are some of the developing ex-urban areas and most of the first ring suburban communities.
With its proximity to the Lakes area, St Louis Park remains a prime destination.
East St Louis Park (East of Hwy 100)displays the highest market prices in neighborhoods such as Browndale Fern Hill and Minnekada Vista.
West St Louis Park offers great opportunities to first time buyers with charming ramblers.
Excelsior & Grand neighborhood shows the latest enthusiasm with new condominium development and loft project to brake ground soon...
Again the overall St Louis Park condominium market offers tremendous opportunities to first time buyers and few high demand townhomes.
For more information about specific St Louis Park neighborhoods real estate markets, feel free to call Stephane @ 612-703-8229 or visit his website @ www.StephaneCattelin.com
About Stephane Cattelin:
A real estate professional, Stephane Cattelin provides exceptional service to home buyers and sellers in Minneapolis, South and Southwest, Edina, St. Louis Park, Richfield and Minnetonka. He specializes in residential properties for first time buyers, international transferees and relocation clients.
Stephane earned his master’s degree in France, majoring in hospitality industry management and marketing. He uses his award-winning customer service skills to help his real estate clients achieve a smooth transaction from contract to close. Stephane has experienced many personal moves; therefore he is empathetic to the stresses families encounter during a transition to a new home and works to make the experience a positive one.
Stephane combines traditional and high tech tools to market properties to the greatest number of potential buyers worldwide. With maximum internet exposure and target marketing strategies, Stephane works to sell your home for top dollar, in the shortest amount of time and with the least inconvenience to you.
Driven to provide exemplary customer service, Stephane can help you achieve your real estate goals.
Hear more about Stephane @ www.StephaneCattelin.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
