Dakota County Real Estate Statistics – November 2009

The Minneapolis Area Association of Realtors continues to do a great job of collecting and disseminating real estate market data that helps to determine what’s happening with Dakota County real estate. This week they published their December Housing Supply Outlook that takes a look at the supply, demand and pricing trends for single-family, townhouse and condominium properties in the Twin Cities.

Housing Supply Conclusions:

Takeaway #1: In the overall Twin Cities market, home sellers are now getting closer to their original asking prices than they were a year ago. Dig a little deeper, however, and it becomes clear that it’s only the Single-Family Detached segment that’s seeing improvement. The lowest mark for Percent of Original List Price Received at Sale can be found in previously owned condominiums, which post a low mark of 88.6 percent.

Takeaway #2: Home sales continue to look the strongest in the more affordable price ranges. Homes below $190,000 are selling at a 49.9 percent faster clip over the last 12 months than they did the prior 12 months. Above $190,000, sales are down by 10.5 percent.

Takeaway #3: That’s caused some large differences in our calculation of Months Supply of Inventory by price range. The lower price ranges are extreme seller’s markets, while the higher prices ranges still present sellers with challenging conditions.

Market Updates/Statistics For Dakota County

In addition to the broader housing supply analysis, MAAR does market updates on a monthly basis for each city and township in Dakota County. The November 2009 report for Eagan is here below and you can find links to each major market in the county below that -