Just a little breakdown on the market on Edina ondo sales. I am always asked what is happening in the Minneapolis area housing market and I think it is fun to show a more microscopic piece of information or data on specific areas. This is just that, a view of what is happening in the Edina condo sales scene for the month of July.
Click here to search all Edina condo sales
Currently there are 98 Edina condo sales priced under $300,000. 18 of those are under $100,000, with 68 units between $100,000 and $200,000. There are 12 priced between $200,000 and $300,000. For under $100,000 you can get 1 or 2 bedrooms and and average of 400 to 900 finished square feet and a 1 car garage. For $275,000-$300,000 you can get 2 or 3 bedrooms, and an average of 1,500 to 2,200 finished square feet of living space.
Click here to search all Edina condo sales
During the month of July, there were 15 Condos that sold in Edina priced under $300,000. The lowest price condo to sell was listed at $52,900 and offered a 1 bedroom 1 bath and no car garage. At the top end, there was a 2 bedroom, bath, 1 car garage unit with over 1,800 finished square feet that sold and was listed at $277,500 on Dewey Hill Road.
Average total market time for those 15 condos that sold was 242 days on the market. The fastest selling unit sold in 22 days and the longest one took 318 days.
I did a tour of Edina Condos about 3 weeks ago and I can tell you many of the units that I previewed need some cosmetic updating, carpet paint etc. There were a few units that showed very well and my guess is if a condo is somewhat updated, and priced attractively, they sell.
With 15 condos selling per month, and 98 of them on the market, that would give us a 6.5 month supply of inventory. This would still indicate a buyers market, but certainly getting closer to a ‘balanced market’.
*All market data on Edina condo sales provided by the regional multiple listing service
Incoming search terms:
- sold condos edina
