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Market Trends
Commentary Provided byLynne Salminen 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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| Report Date | Fall 2009 | ||
| Nearest Metro Area | Minneapolis | ||
| Buyers’ or Sellers’ Market | More sellers than buyers | ||
| Average Time on Market | More than 120 days | ||
| Market Trend | Increasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Average Home Price | $325,000 - View Graph Trend | ||
| Best Selling Price Range | $200,000 - $249,000 | ||
| Worst Selling Price Range | $550,000 - $599,000 | ||
| Compared to Last Year | Down 15-20% | ||
| Prices As % of Asking Price | 90-95% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | Only in the under 150K market. | ||
| Greatest Activity | Repeat 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 | ||
| Is Financing Available For Qualified Buyers in Minnetonka? | Yes | ||
| Existing Home Prices for the past 90 days are | No Change | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 10-15% | ||
| Housing Hot Spots | Most cities within the Hennepin County area are considered 'Housing Hotspots' | ||
| Reason to Buy/Sell | Population Growth | ||
| Average Sold Price | $325,000 - View Graph Trend | ||
| National Real Estate Market | |||
| National Summary: National Housing Market Recovery Near? Latest HouseHunt Random Survey Finds Encouraging Signs - First Time Buyers Taking Advantage of $8,000 Tax Credit Like the legendary phoenix which rose renewed from its ashes, the U.S. housing market appears to be on the verge of emerging from the worst real estate market in three years. Several encouraging signs are there. Click here for full article... | |||
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Lynne Salminen
RE/MAX Action West Minnetonka, Minnesota 612-419-8095 Lmattson@comcast.net Agent Home Page 
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Minnetonka Local News
News for Minnetonka, MN - Tuesday September 15th, 2009 2:21pm
Minnetonka offers many choices in home at affordable prices. Whether you are interested in a townhome or single family home, there is a perfect storm of great inventory, affordable prices and low interest rates. First-time home buyers may have an additional opportunity to cash in on the $8,000 tax credit if closed before December 1, 2009. No time to waste to locate that perfect home. Call me to begin the journey to your new home.
News for Minnetonka, MN - Thursday July 30th, 2009 12:16pm
Minnetonka is a great area to purchase a new home. I have lived most of my life in the Minnetonka area. If offers great schools, access to major freeways, and shopping. There is no better time to buy with interest rates below 5% and an abundance of inventory in all price ranges. Please contact me and we can begin the search for your new home.
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612-419-8095
