Dec 19, 2013

Archived: Central Minnesota Homebuyers See Increase In Average Sale Prices In November

While potential homebuyers had fewer choices in November, area sellers saw increases in both the average and median sales prices which are contributing to the area’s market recovery.

According to the Minnesota Association of Realtors, new listings in Central Minnesota were down 4.2 percent or 20 units over November 2012.  However, in year to date listings as of December 11th, 8,459 homes were recorded, which is an 11.3 percent increase compared to this time last year.  Of that number, 5,501 homes have closed their sales. 

While area buyers had less inventory in November, sellers were watching their values continue to recover; receiving 94.6 percent of their original list price.

On a statewide level, sellers are seeing the average sales price rising month after month. The average sales price increased to just over $212,000 a 10.5 percent change. The average sales price has increased each month over the last 12 month period.

Thank You Underwriters

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