Below is the September 2013 C21® MarketUpdate video. It presents a brief overview of the national real estate market conditions. All market data in this video is taken from NAR’s August Existing Home Sales Report.
This video was produced by the Minneapolis Association of REALTORS. It contains a brief overview of the Twin Cities real estate market. If you would like a more specific market update with a lot more detail, please fill out the form at the bottom of the page.
The Twin Cities real estate market is continuing to improve. The Twin Cities had a 14.5% increase in closed real estate sales compared to last September. Properties listed for sale were down 7.1% compared to a year ago. The medium sale price increased to $195,000 an almost 12% increase.
Homes are selling in an average of 71 days and sellers are receiving 96.5% of asking price. Distressed property sales (foreclosures and short sales) are down to 21.9% from 46.1%.
The combination of lower supply and increased demand are returning the Twin Cities market to a more “normal” market. Stay tuned for next month’s Twin Cities Market Update where we hope to see the trend of year over year improvements continue.
Each market is different. If you would like a market update for YOUR neighborhood, fill out this contact form and we will get back to you right away. We are your local market experts and we are here to help!
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