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Winter 2012 Market Update
If you can qualify, now is an exceptional time to buy a home in Minnetonka. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 612-419-8095 Remember the First-time homebuyer tax credit for $8,000.
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| Average Home Price | $325,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 15-20% |
| Average Time on Market | More than 120 days |
| Best Selling Price Range | $200,000 - $249,000 |
| Worst Selling Price Range | $550,000 - $599,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Increasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Minnetonka is | No Change |
| Seller Activity for the past 90 days in Minnetonka is? | No Change |
| Multiple Offers? | Yes |
| Multiple Offers Commentary | Only in the under 150K market. |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Good supply - Some Prices |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Population Growth |
| Nearest Metro Area | Minneapolis |
| Housing Hot Spots | Most cities within the Hennepin County area are considered 'Housing Hotspots' |
| Average Sold Price | $325,000 - View Graph Trend |
Minnetonka Local News
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...
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 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%
Home Values
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