Eden Prairie home sales statistics

Sales numbers for the month of December show that there are still Eden Prairie homes selling! December is always a slower month of the year. According to the multiple listing service of Minneapolis region, there were 31 Eden Prairie homes sold. Of those homes the average sale price was $162,427. The highest priced home sold in Eden Prairie was a 1 million dollar home.

I like to break down and look at the sales numbers further to really see what is happening in the market and to look for patterns. Of the the 31 properties sold in Eden Prairie, 10 were listed under 200 hundred. 12 were listed between 2 and $300,000, and 9 homes sold over $300,000. Of those 9, all but one were under 400 thousand. From this I can tell you that the market for homes over 400 thousand in Eden Prairie was all but dead last month. I can also tell you that what is selling best is foreclosure properties, primarily under $300,000. This coincides with what has been in the news on a larger scale. The buyers are out there looking for good deals. Our market would be really in trouble if the good deals weren’t even selling. There are also signs that our inventory is shrinking, and there are fewer listings that last year. This is certainly not going to be a quick turnaround in our market, but perhaps is a glimpse of the ship beginning a slow turn for the better.

Articles lately are predicting a 10-12% decline in home prices in the Minneapolis region for 2009. What I have seen is that it varies too much from neighborhood to neighborhood, and from city to city, and price point to price point. I would say that if you are contemplating a move, do your research for your specifice property, as things may be better than you think. Homes are still selling in Eden Prairie!!

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