Minneapolis Housing Price Projections

Minneapolis Has a Balanced Market Too? Well, I’ll be a Monkey’s Uncle

Before I get too far into this post I should point out the blog posts were I’ve mentioned which communities in the Twin Cities Housing Market have a Balanced Market.

Plymouth
Saint Paul
List of Communities with Balanced Market
List of Communities with a Seller’s Market - Really? Yup.

In the chart to the right we can see how many months the City of Minneapolis has been in a Balanced Market. In March 2011 we saw the first indication of a possible turnaround for Minneapolis and as the year progressed things continued to improve with 2012 starting at 6.27 Months of Inventory.

minneapolis, real estate, housing market, inventory, home sales, absorption rate In this next chart we see the 12 month moving average, which shows Minneapolis nearing a Seller’s Market, which would be five months or less.

In the chart below we can see what direction the trend lines have been moving for Months of Inventory and the Median Sales Price for the City of Minneapolis.

minneapolis, homes prices, housing market, real estate, inventory, sales

In this last chart we can see how home prices have performed in each area of Minneapolis.

Homes Prices in the Southwest Area of Minneapolis, which happens to be one of the most desierable areas of Minneapolis, appreciated 13% since 2002 and fell 7% since 2006.

The worst performing areas since 2002 would be the Camden Area at 65% and the Near North Area at 63%. Since 2006 the Near North Area fell 74% while Camden fell 71%.

minneapolis, home prices, housing market, real estate

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Market Data Disclosure - The NorthstarMLS and the Minneapolis Area Association of Realtors is our source for data. We classify The Twin Cities area as a Seven County Area - Hennepin, Ramsey, Anoka, Washington, Scott, Carver and Dakota. We use a 12 Month Moving Average to make our calculations.

Showing properties 1 - 5 of 500+. See more city of Minneapolis real estate.
(all data current as of 5/19/2012)

$339,000 : 2704 Arthur Street NE, Minneapolis

3 beds, 1 full, 2 part baths

Home size: 1,685 sq ft

Lot size: 4,356 sqft

Year built: 1930

Listed with Coldwell Banker Burnet
$115,000 : 3501 Irving Avenue N, Minneapolis

2 beds, 1 full bath

Home size: 1,020 sq ft

Lot size: 5,662 sqft

Year built: 1926

Listed with Lakes Area Realty
$87,000 : 3305 20th Avenue S, Minneapolis

2 beds, 1 full bath

Home size: 894 sq ft

Year built: 1924

Listed with RE/MAX Results
$269,900 : 5505 Xerxes Avenue S, Minneapolis

4 beds, 1 full, 1 part baths

Home size: 2,251 sq ft

Year built: 1941

Listed with Scot Pekarek Real Estate
$55,000 : 1612 N Thomas Place, Minneapolis

3 beds, 1 full, 1 part baths

Home size: 1,224 sq ft

Lot size: 5,227 sqft

Year built: 1924

Listed with Americas Realty Group LLC