The Housing Market in Plymouth Minnesota, much like Saint Paul, is experiencing a Balanced Market and has been trending closer to a Seller’s Market since October 2011.
During the Months of August 2011 – December 2011 the market conditions in Plymouth were considered a Seller’s Market since inventory was less than 5.0 Months. However, since the current conditions of a month aren’t really felt throughout the market we want to look at what the trend was doing during this time.
The Absorption Rate Trend, which is a 12 month moving average, has been leaving a Buyer’s Market and Entering a Balanced Market, which is 5-7 Months of Inventory.
Even though Plymouth is part of the seasonal Real Estate Market in Minnesota we have evidence that supports the possibility of a Seller’s Market coming to Plymouth. We already saw 2011 show signs of a Seller’s Market. What this tells me is the inventory of homes, especially those in the lower priced ranges, are being absorbed. There’s also a possibility of consumers deciding to hold off on selling and have pulled their homes from the market. And the Absorption Rate Trend supports this theory.
Further evidence supporting a rebound in Plymouth is the direction the Median Sales Price has moved. Since 2002 the Median Sales Price has appreciated 3% and has fallen 17% since the 2006 Housing Market Peak. This is a pretty small decline compared to other areas in the Twin Cities.
In this next chart we have the monthly and 12 month trend lines for the Median Sale Price and the Absorption Rates (Months of Inventory). As you can see from the trend lines inventory has been dropping quickly since Spring 2011 and Home Prices have started to rise near the end of 2011.
In this next chart we’re going to look at conditions by price bracket.
From the chart below we can see the market conditions for each segment of the Plymouth Housing Market. This data is a snap shot of the conditions as of the date of this post and may vary from one day to the next, but the overall inventory levels will be pretty steady.
- Seller’s Market – Homes at or below $350,000
- Balanced Market – Homes from $350,000 – $500,000
- Buyer’s Market – Homes above $500,000
One of the reasons Plymouth is experiencing better market conditions compared to other communities around the Twin Cities Area has to do with Plymouth being one of the most desirable areas to live in the Twin Cities. The other factor Plymouth has is it’s healthier economy in relation to the rest of the Twin Cities.
Showing properties
1 - 5 of 363.
See more city of Plymouth real estate.
(all data current as of
5/18/2012)
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$235,000 : 1325 Dunkirk Lane N, Plymouth4 beds, 1 full, 2 part baths
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$349,900 : 2900 Zanzibar Lane N, Plymouth3 beds, 1 full, 2 part baths
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$215,000 : 15705 17th Place N, Plymouth2 beds, 1 full, 1 part baths
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$274,900 : 5110 Larch Lane N, Plymouth4 beds, 1 full, 2 part baths
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$699,000 : 14815 13th Place N, Plymouth4 beds, 2 full, 2 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
About Eric Hempler
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