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Winter 2012 Market Update
Interest rates are still relatively low at about 6%. Home values continue to go up 10-12% per year over the last 7 years. A lot of new construction activity. Buyers and sellers thinking of purchasing a new home or moving up should take advantage of the low interest rates.
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| Average Home Price | $220,000 - View Graph Trend |
| Average Price Compared to Last Year | Up from last year |
| Average Time on Market | 30-60 days |
| Prices As % of Asking Price | 95-100% |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Multiple Offers? | Yes |
| Housing Inventory | Good supply |
| Greatest Activity | First-time buyers, move-up buyers, single-family homes, condos/townhouses |
| Reason to Buy/Sell | Population growth |
| Nearest Metro Area | Minneapolis, MN |
| Housing Hot Spots | All of Apple Valley and surrounding areas |
| Average Sold Price | $220,000 - View Graph Trend |
Apple Valley Local News
Local Summary: Unlike many markets across the country, the supply of available inventory is good. Prices are increasing with listings averaging 30-60 days on the market. While there are currently more sellers than buyers, the market is heating up--particularly due to first-time buyers, move-up buyers and single families.
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
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Mortgage Rates
– Feb 13th, 2012 –
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30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.61%
15 yr. jumbo rate: 3.97%
Home Values
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