How many homes in Eden Prairie are in foreclosure? I wanted to dig up some statistics on foreclosures in Eden Prairie to give an idea of what is happening in the Eden Prairie real estate market compared to another city. Information in the news is good for a broad generalization, but isn’t very accurate for your specific city or neighborhood. To lay the groundwork, the statistics I found, are based on what I am able to search with our Regional Multiple Listing Service of Minneapolis Inc. In doing this search, the RMLS recently entered the search fields called “foreclosure/lender owned”. These numbers would include foreclosed property, and also bank owned properties and possible ’short sale’ homes as well. This means that while I can tell ‘approximately’ how many foreclosures are on the market or have sold, it isn’t exact. The listing agent may or may not check the box to disclose to the public whether the listing is a foreclosure or not. It does however allow us to look at one city versus another to get a feel of what is happening in those specific home markets.
Looking at Eden Prairie homes currently active on the market as of Nov. 18, there are 491 homes currently listed for sale. Of those homes, 32 were marked as yes to the foreclosure/lender owned. 379 were marked as no, and 68 were marked as ‘not disclosed’. This ‘not disclosed group’ I did a quick glance and many are foreclosures and some aren’t. If you take a worst case scenario of the homes marked as foreclosure and add in the not disclosed group, you get a total of 100 homes that would be ‘foreclosures’ out of 491 for an approximate 20 percent of active listings as being foreclosures in Eden Prairie.
As a comparison, I looked at North Minneapolis homes currently active on the market. Currently there are a total of 296 homes on the market, with 117 marked as foreclosure, 112 as not, and 48 as undisclosed. This would give a total of 165 homes or a nearly 56% foreclosure rate. Again, this isn’t exact science, but definitely shows trends and can be used to compare one city to another. Tomorrow I will share sold statistics for foreclosures for the same two cities of Eden Prairie and North Minneapolis properties that sold during the month of October.
If you would like me to run the home foreclosure data for your city let me know and I would be happy to provide that for you.
Click here to view foreclosures and lender owned properties in Minnesota!
Possibly elated posts:
- Eden Prairie Foreclosures Many people that I have talked with think Eden Prairie is immune...
- Eden Prairie homes are still hot! One corner of the market that is still hot, are...
- Eden Prairie Homes for Sale The list of Eden Prairie homes for sale is broad...
