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Market Trends
Commentary Provided byTop Agent If you can qualify, now is an exceptional time to buy a home in Eagan. Low rates with falling home prices makes a home purchase a great value! Call now for more information at 952-412-1290. Historically low home prices, historically low interest rates, and a $8000 tax credit - it’s time for your home. |
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| Report Date | Winter 2010 | ||
| Nearest Metro Area | St. Paul | ||
| Buyers’ or Sellers’ Market | Equal buyers and sellers | ||
| Average Time on Market | 30-60 days | ||
| Market Trend | Decreasing | ||
| Housing Inventory | Good supply - Some Prices | ||
| Inventory Comments | In Eagan, we're expecting another wave of pre-foreclosures and foreclosures starting in November, as a large percentage of ARM loans will be readjusting in August. | ||
| Average Home Price | $200,000 - View Graph Trend | ||
| Best Selling Price Range | $100,000 - $149,000 | ||
| Worst Selling Price Range | $1,000,000+ | ||
| Compared to Last Year | No Change | ||
| Prices As % of Asking Price | 95-100% | ||
| Multiple Offers? | Yes | ||
| Multiple Offers Commentary | For the top 10% of homes in the market, there are multiple offers. Home must be priced right in this market - and if they are, there will be multiple offers. | ||
| Greatest Activity | First Time Buyers | ||
| Buyer Activity for the past 90 days in Eagan is | Increasing | ||
| Seller Activity for the past 90 days in Eagan is | No Change | ||
| Is Financing Available For Qualified Buyers in Eagan? | Yes | ||
| Comments on Financing For Qualified Buyers | The $8000 tax credit is making first time homebuyers jump into the market. | ||
| Existing Home Prices for the past 90 days are | No Change | ||
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 35-40% | ||
| Housing Hot Spots | Eagan has several area hotspots which have retained value very well such as Acorn Pond, Royal Oaks, Blackhawk Glen, Terra Glen, Stonecliffe, Marcella Woods, Lexington Ridge, Pines Edge, and Pearlmont Heights. More moderately priced homes can be found in Brittany Estates, Blackhawk Ponds, Steeplechase of Eagan, and Centennial Ridge. | ||
| Reason to Buy/Sell | Many people are selling in order to move up into a much larger home for much, much less. | ||
| Average Sold Price | $200,000 - 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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Eagan Local News
News for Eagan, MN - Sunday June 14th, 2009 10:19pm
There are currently 10 single family homes in Eagan under $150,000. 3 years ago, I would have never believed it. And, lenders are starting to offer special in-house financing on some of these properties. Good times!
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