Apple Valley Real Estate Market Conditions & Reports, Apple Valley Market Trends, Minnesota

Market Commentary Provided by Wally Berg
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.

Report Date

Fall 2009

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CONNECT WITH A LOCAL PROFESSIONAL

Wally Berg
Edina Realty
Apple Valley, Minnesota
612-701-5476
wallyberg@edinarealty.com
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Nearest Metro Area

Minneapolis, MN

Buyers’ or Sellers’ Market

More sellers than buyers

Average Time on Market

30-60 days

Market Trend

Increasing

Housing Inventory

Good supply

Average Home Price

$220,000 - View Graph Trend

Best Selling Price Range

Worst Selling Price Range

Compared to Last Year

Up from last year

Prices As % of Asking Price

95-100%

Multiple Offers?

Yes

Greatest Activity

First-time buyers, move-up buyers, single-family homes, condos/townhouses

Buyer Activity for the past 90 days in Apple Valley is

Seller Activity for the past 90 days in Apple Valley is

Is Financing Available For Qualified Buyers in Apple Valley?

Existing Home Prices for the past 90 days are

What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales?

Housing Hot Spots

All of Apple Valley and surrounding areas

Reason to Buy/Sell

Population growth

Average Sold Price

$220,000 - View Graph Trend

National Real Estate Market

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.

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.

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