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Detailed Minneapolis Market Update

by Jennifer Kirby on June 14, 2007
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Recent Real Estate Statistics for the Camden area.

Due to Minneapolis encompassing a large area of real estate, the local Realtor association has created 11 areas in Minneapolis in order to better organize the sale data.The Camden region is denoted by the number 301 in our multiple listing system.

Following is some year-to-date (YTD) sales information.

  • Average Sales Price : YTD the average sales price is $150,087. In 2006, it was $166,767. That is a decrease of 10%!
  • % of Original List Price Received : currently sellers are getting 92.3% of the list price, where in 2006, sellers were receiving 95.0% or more.
  • Average Days on the Market : it is taking 140 days for a home to sell in the Camden area
  • New Listings vs. Closed Listings : YTD there have been 746 homes listed for sale, up 7% from 2006. At the same time, only 147 have closed this year, which is down 21.4% from 2006!

As you can see, the market has cooled a little. Price and condition of the home has been the determining factors on getting a home sold. Since there are so many options available to buyers, the cream of the crop are being snatched up the fastest.

I will be posting updates every couple months as the new data is released so you can get a better view of how the market is progressing as the year goes on.

Look for my breakdown of the other 10 Minneapolis regions over the next week or so.

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