Offering Auto lending, Business Lending, Investments, Mortgage, Realty, Title Services, Calculators, Rates and more, CU Companies helps Minnesota Credit Unions provide superior services at the lowest possible cost to their members.
Offering Auto lending, Business Lending, Investments, Mortgage, Realty, Title Services, Calculators, Rates and more, CU Companies helps Minnesota Credit Unions provide superior services at the lowest possible cost to their members.
Offering Auto lending, Business Lending, Investments, Mortgage, Realty, Title Services, Calculators, Rates and more, CU Companies helps Minnesota Credit Unions provide superior services at the lowest possible cost to their members.
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Home Prices Creep Up
Wednesday, 10 June 2009 13:26
After increasing by $12,000 from April to May, the median sales price in the Twin Cities housing market jumped another $8,500 in June as traditional homes-those excluding foreclosures and short sales-again increased their market share, according to the Minneapolis Area Association of REALTORS® (MAAR) based on data from the Regional Multiple Listing Service of Minnesota, Inc.
Of the 4,764 closed sales in June, 40.7 percent were lender-mediated foreclosures and short sales, down from the 59.7 percent seen at the beginning of the year.

Since lender-mediated properties consistently have a lower median sales price, their decline in market share means a stronger overall median sales price.

The overall June median sales price for all properties was $173,500, down 15.4 percent from one year ago. The median sales price of traditional homes in June was $210,000, down 7.7 percent from a year ago. Lender-mediated homes posted a May figure of $124,025, down 16.8 percent from one year ago.

The supply of homes for sale continues to drop. At the beginning of July there were 26,204 homes on the market in the metro area, down 21.6 percent from a year ago. That's good for 7.3 months of supply, down significantly from the mark of 10.6 seen last year at this time.