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Linden Hills Neighborhood Homes Sales Statistics for Year-End 2013

January 5th, 2014 By Zeb Haney

Southwest Minneapolis’ Linden Hills Neighborhood Homes Sales Statistics for Year-End 2013:

The average list price prior to sale = $538,342, average sales price = $527,205, percent of list price received at sale (from last price-point) = 98%, average days on the market = @74, average price per square foot = $221.48. 114 single family homes sold in the Fulton neighborhood in 2013.

**The first half of 2013 saw the best price gains for homes in Linden Hills. The 2nd half of 2013 was stable, but did not really see an average increase in price. Essentially, we remained largely flat, when compared with the stunning price gains of the first half of the year. I’d attribute a significant portion of this to the rise in interest rates. In March of 2013, we saw rates bottom-out @ 3.25%, and by the end of the year, we saw rates fluctuating between 4.25%-4.75%. IMO, while anything below 5% is phenomenal, going from 3.25% to the 4.25%-4.75% range is an increase of between 30%-40% in interest rate pricing. That being said, upon writing of this post (01/05/2013) it’s still a fantastic time to buy. However, it’s also a fantastic time to sell: we have a really low inventory in Southwest Minneapolis, and in particular, in the highly sought-after Linden Hills neighborhood.

Don’t wait. My estimation is that when I update the year-end stats of 2014, a year from now, we’ll have average interest rates North of 5%.

Everything you need to know on the Linden Hills Neighborhood + More sales stats and info: Please click here.

Southwest Minneapolis’ Fulton Neighborhood Homes Sales Statistics for Year-End 2013

January 5th, 2014 By Zeb Haney

Southwest Minneapolis’ Fulton Neighborhood Homes Sales Statistics for Year-End 2013:

The average list price prior to sale = $489,847, average sales price = $483,488, percent of list price received at sale (from last price-point) = 99%, average days on the market = @67, average price per square foot = $214.99. 151 single family homes sold in the Fulton neighborhood in 2013.

**The second half of 2013 saw the best price gains, as well as the total number of homes sold for homes in the Fulton neighborhood. While the first half of 2013 saw nice gains, the second half blew the first half out the door.

I attribute the rise in average sales price to an improving market in the Fulton neighborhood, combined with a really low inventory (felt and observed overall in our 13-county metro market, but especially in the Southwest Minneapolis and Edina housing market), but I’ll attribute the stellar 2nd half of 2013 for Fulton, to be primarily due to the high amount of new construction that sold in Fulton. This drove not only the average sales price up, but also the price per square foot average. However, when new construction is backed-out, we still saw significant gains in the Fulton neighborhood.

Perspective for both sellers and buyers: In March of 2013, we saw rates bottom-out @ 3.25%, and by the end of the year, we saw rates fluctuating between 4.25%-4.75%. IMO, while anything below 5% is phenomenal, going from 3.25% to the 4.25%-4.75% range is an increase of between 30%-40% in interest rate pricing. That being said, upon writing of this post (01/05/2013) it’s still a fantastic time to buy.

Don’t wait. My estimation is that when I update the year-end stats of 2014, a year from now, we’ll have average interest rates North of 5%.

Everything you need to know on the Fulton neighborhood, plus more details on stales stats: Please click here.

Lynnhurst Neighborhood Homes Sales Statistics for Year-End 2013:

January 5th, 2014 By Zeb Haney

Southwest Minneapolis’ Lynnhurst Neighborhood Homes Sales Statistics for Year-End 2013:

The average list price prior to sale = $499,393, average sales price = $491,314, percent of list price received at sale (from last price-point) = 98%, average days on the market = @54, average price per square foot = $208.38. 106 single family homes sold in the Fulton neighborhood in 2013.

**The first half of 2013 saw the best price gains for homes in the Lynnhurst neighborhood. The 2nd half of 2013 was stable, but did not really see an average increase in price. Essentially, we remained largely flat, when compared with the stunning price gains of the first half of the year. I’d attribute a significant portion of this to the rise in interest rates. In March of 2013, we saw rates bottom-out @ 3.25%, and by the end of the year, we saw rates fluctuating between 4.25%-4.75%. IMO, while anything below 5% is phenomenal, going from 3.25% to the 4.25%-4.75% range is an increase of between 30%-40% in interest rate pricing. That being said, upon writing of this post (01/05/2013) it’s still a fantastic time to buy.

Don’t wait. My estimation is that when I update the year-end stats of 2014, a year from now, we’ll have average interest rates North of 5%.

Everything you’d want to know about the Lynnhurst neighborhood, plus additional sales stats, comparing year x year: Please click here.

An Accurate Assessment of our Market Moving Forward

August 6th, 2013 By Zeb Haney

I think this article from Mortgage News Daily puts the next 9 months of our housing market into perspective. This is a prediction that is addressing primarily the national level, but I think – by and large – this will apply to the Minneapolis/St. Paul market as well.

Logic dictates that this prediction makes sense, barring any unforeseen, cataclysmic events.

Click here to view the article.

Rising Home Prices Make Selling More Attractive – It’s True!

May 8th, 2013 By Zeb Haney

Have a read of this article from National Mortgage News. By and large, this is true. The question is, are home prices rising due to lower inventories and extremely low rates – thus a temporary improvement – or are they rising due to an organic, legitimate ‘return of our housing market?’

To get my take on this, please email or call.

Sellers, The Time to Sell is Now: Low Inventory + Increased Demand = Successful Sale

April 5th, 2013 By Zeb Haney

Record-low interest rates make it a great time to buy, yet record-low inventories make it also a great time to sell. Is this the perfect real estate market? See this video from the Minneapolis Area Association of Realtors (MAAR) – the Minneapolis Real Estate Market Update.

Latest Minneapolis Real Estate Market Update – from MAAR

April 5th, 2013 By Zeb Haney

Please click here to read last week’s update from MAAR (Minneapolis Area Association of Realtors). Again, this only goes to show that the inventory in the Minneapolis and St. Paul area real estate market is really, really low. By and large, it’s a seller’s market again!

2012 Year-End Fulton Neighborhood of Southwest Minneapolis Sales Statistics

January 17th, 2013 By Zeb Haney

Please click here for all of the right information on how homes sales fared for year-end, in the Fulton neighborhood of Southwest Minneapolis.

2012 Lynnhurst Neighborhood of Southwest Minneapolis Year-End Real Estate + Home Sales Statistics

January 17th, 2013 By Zeb Haney

Everything you need to know for year-end 2012 real estate and home sales statistics for the Lynnhurst neighborhood of Southwest Minneapolis. Please click here.

2012 Southwest Minneapolis Linden Hills Neighborhood Year-End Real Estate + Home Sales Statistics

January 17th, 2013 By Zeb Haney

Everything you need to know for updated real estate and home sales statistic for the Linden Hills neighborhood of Southwest Minneapolis: please click here