Minnetonka home sales have been increasing in the number of units sold. Much of this is spurred by the first time home buyer as a result of the $8,000 tax credit part of the overall stimulus packages. This information is generated from the MLS system and only includes single family homes sold in Minnetonka under $1M.
Prices for Minnetonka homes sales have dropped significantly. 2008 year end average sale price for all home sales including single family, townhomes and condos dropped by 7.6% from 2007 year end sales. This after a 9.7% increase from sales year end 2002. 2009 isn't looking so good for Minnetonka home sales, YTD the average sale price for single family homes under $1M has dropped by 16.5% as of the end of August, this compared to same period last year.
Some of the decline in average sale price can be attributed to the pressure instilled by foreclosures and short sales.
The cumulative days on market has extended to 144 DOM
It is my opinion if you were looking to buy a home now would be a great time to buy as the number of homes on the market provide for a great choice and opportunity to negotiate a fantastic price. Additionally first time home buyers can take advantage of the Stimulus Package for 2009 saving up to $8,000. If you are interested in receiving notices of new listings meeting your specific search criteria, you can set yourself up by visiting www.jerryclifford.com and click on "Listings" this gives you the opportunity to be in control of your own search and not someone else controlling what you see or don't see..
The key to selling your home in 2009 is based on condition and price, well staged home priced to sell are still selling. If you would like to receive a copy of our 20 Tips to Selling Your Home report just give me a call and I will send it right out. Plan on about 6 months before the moving truck is loaded as the Days On Market is close to 4 months, then you have to wait for the closing etc. If you would like more specific information for your home, contact us for your FREE market analysis or go to www.mn-home-values.com or call us at 612-701-5915
We have several years' expertise of Minneapolis / St. Paul. Take advantage of our effective marketing plan to get your home sold GUARANTEED.
~Exceptional Service Exceptional Results~
Disclaimer: All data has been extracted from the local MLS system for single family homes under $1,000,000
Location Characteristics: The city of Minnetonka is a suburban community located eight miles west of Minneapolis in Hennepin County. The city has a land area of 28 square miles, and its 2000 population of 51,301 makes it the thirteenth largest city in Minnesota. Minnetonka enjoys an excellent location, with convenient access to the Minneapolis-St. Paul metropolitan area via interstate highways I-494 and I-394. Interstate Highway 394 runs from Minnetonka east to Minneapolis, and is a primary commuter route to downtown Minneapolis. Its reversible high-occupancy vehicle lanes create a priority route for buses and car-pool vehicles during peak traffic hours. The city is just 25 minutes from the Minneapolis-St. Paul International Airport.
About Jerry Clifford:
Jerry has lived in the Minneapolis / St. Paul area most of his life. He is very familiar with the real estate market in the Twin Cities and surrounding communities. His passion for real estate struck after a successful career in Senior Management positions with local companies in the Twin Cities.
Since starting his career Jerry has achieved several goals including being awarded the prestigious 100% club award from RE/MAX as a high producing agent. Jerry is certified as an ePRO real estate technology certification and a Senior Resident certification
Buying or selling a home is one of the most important decisions in your life. We are a professional and experienced team committed to providing you with "world-class service". We have a deep knowledge of the different communities in Minneapolis / St. Paul and surrounding areas. Our customers appreciate our attention to detail, high ethical standards and strong negotiation skills. You may contact us anytime at 952-829-1562 or visit us on the web at www.jerryclifford.com
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
