Minneapolis Real Estate, 7700 France Avenue S, Edina, MN (2026)

01/27/2015

Outstanding value. Beautiful 3 story home, finished basement, hardwood floors throughout. Much sought after St. Paul location 1/2 block off the light rail.

Call/text 612-490-0785 for more pics and information. This one won't last long.

01/22/2015

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Homeowners: 'You're in better shape than you thought'
Posted by: Jim Buchta under Buying Updated: August 1, 2011 - 5:26 PM

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In an attempt to get a better understanding of what’s happening in the Twin Cities housing market, Herb Tousley at the University of St. Thomas has created a monthly housing market index that it hopes will offset some of the “issues” he sees in the closely watched Case Shiller report.

His new Residential Real Estate Market Index is based on recent data from the Regional Multiple Listing Service, including sale price, number of sales, proportion of distressed sales to traditional sales, market time, months’ supply, pending sales and new listings. Those numbers and a few others are used to create a numerical index, which has a baseline value of 1,000 for January 2005, the apex of the residential housing bubble. Tousley is the director of the Master of Science in Real Estate Program and the Shenehon Center for Real Estate in the Opus College of Business.

The Case Shiller report is based on an index of 20 cities throughout the country, which is computed by calculating the percent change between prices of matched sales pairs of individual properties. Tousley’s complaint about the methodology is that those sale pairs can include foreclosure and short sale transactions. So in a market in which nearly 50 percent of all sales are distressed sales, you’re going to see unusually large declines in sale prices. Tousley contends that while distressed sales do impact the market, allowing them to be included in the sale pair comparison unfairly skews the number downward because the seller — usually a bank — isn’t a typical seller. He also said that the data is about 60 days behind the market.

In the Case Shiller report of late the Twin Cities metro area is consistently called out as the city with the biggest price declines. Tousley said that’s only the case because of the high percentage of foreclosures hitting the market recently, but not because the foreclosure rate is higher than any other market. He attributes the high ratio to a simple matter of timing. “It’s a function of how lenders process these things and put them on the market,” he said.

Because so many of those sale pairs show as foreclosures, Tousley said that the declines appear much worse than in reality.

The UST report tracks prices for traditional sales and distressed sales separately in an attempt to get a sense of what the market would be like if so many lenders weren’t wholesaling their listings. The result, he said, is that prices aren’t down as much as they appear in the Case Shiller report.

The very first UST report is for May and June (the report will be released monthly) the month-to-month composite index increased in May for the first time in 11 month, but was down 1.85 percent compared to a year ago. It increased from May to June, as well, a total of 4.25 percent. The hit a low point of 727 in March 2011, but has since to 784 during June.

“As a normal homeowner your house value has gone down, but not nearly as much as these distressed sales,” he said. “You’re in better shape than you thought you were.”

01/07/2015

Market View for Minneapolis
Average Listing Price

$348,940
for week ending Dec 31

-$434
-0.1%
w-o-w

Median Sales Price

$215,000
Oct '14 - Dec '14

+$12,000
+5.9%
y-o-y

Home Standings

1,044 Homes for Sale
54 Open Homes
2,526 Recently Sold
3,924 Foreclosures

Market Trends for Minneapolis

Average Listing Price $348,940 -0.1% w-o-w
Median Sales Price $215,000 +5.9% y-o-y
Average Price/sqft $214 -15.1% y-o-y
Number of Sales 601 -43.8 % y-o-y
More Minneapolis Market Trends
Home Prices for Minneapolis
google map tile
Most popular neighborhoods Avg. listing Price
Week ending Dec 31 w-o-w
Linden Hills $795,882 -3.4%
Fulton $639,491 -3.5%
Tangletown $402,930 -18.9%
Loring Park $238,317 -4.4%
Lowry Hill $1,321,841 +2.1%
Movers & Shakers Avg. listing price
Week ending Dec 31 w-o-w
Saint Anthony East $224,700 -38.3%
Summer-Glenwood $587,000 +23.2%
Holland $134,653 -22.2%
East Harriet $631,088 +20.7%
Tangletown $402,930 -18.9%
View Minneapolis Home Prices Map
Summary for Minneapolis

Average price per square foot for Minneapolis MN was $214, an increase of 72.6% compared to the same period last year. The median sales price for homes in Minneapolis MN for Oct 14 to Dec 14 was $215,000 based on 601 home sales. Compared to the same period one year ago, the median home sales price increased 5.9%, or $12,000, and the number of home sales decreased 43.8%. There are currently 1,044 resale and new homes in Minneapolis on Trulia, including 54 open houses, as well as 3,924 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Minneapolis MN was $348,940 for the week ending Dec 31, which represents a decrease of 0.1%, or $434, compared to the prior week. Popular neighborhoods in Minneapolis include Linden Hills and Fulton, with average listing prices of $795,882 and $639,491.
Schools in Minneapolis
District Type Grades Schools Students
Minneapolis Public School District Public PK - 12 98 36,668
St. Anthony-new Brighton Schools Public PK - 12 4 2,452
School Name School Type Grades Parent Rating
Southside Family Charter School Public K - 8

Concord Elementary School Public K - 5

Ascension Elementary School Catholic K - 8

View all Minneapolis Schools
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