Below you will find your local market update for January 2012, new listings, closed sales and median sales prices for Minneapolis homes for sale.
We have seen a decrease year over date of new listings. January 2012 we saw 547 new listings and homes for sale brought to market while in January 2011 that number was at 650. This shows us supply of new Minneapolis homes for sale is decreasing and demand is rising. Sold Homes for that same time period has maintained stable, median sales price is down about 15k to $120k however days on market has also decreased by about 18.2 percent to 128 from 157 days.
Check out the change in Medina sales price for Minneapolis real estate from the prior year. We saw that the median sales price of a Minneapolis Home really dipped in and around the end of 2008 and 2009 while it actually rose in mid 2010.