Health & Fitness
Southwest Minneapolis Real Estate Review - 2011 and Now
Prices dropped, sales up, inventory down. 2012 will be an interesting year for the Southwest Minneapolis real estate market. For the first time in 4-5 years, sellers will have some power.
Southwest Minneapolis real estate finished the 2011 year with 672 homes sold, of which 92 were foreclosures and 30 were short sales - for a 18% distress rate. The average price of a home went down in 2011 by 4.3% to $317,000. Real estate sales in Southwest Minneapolis went up by 6.2% compared to 2010, and new listings fell by 10.9%. Southwest Minneapolis has 3.9 months of inventory currently, placing it on the verge of a seller's market.
Currently, there are approximately 390 home listings in Southwest Minneapolis:
Find out what's happening in Southwest Minneapoliswith free, real-time updates from Patch.
78 Southwest Minneapolis Townhomes and Condominiums
In the last 30 days, there have been 224 home sales for an average sales price of $180,500. Follow market trends in Southwest Minneapolis for up to the minute information and analysis.
Find out what's happening in Southwest Minneapoliswith free, real-time updates from Patch.
In review, home prices in Southwest Minneapolis dropped, housing sales went up, and inventory decreased. I predict that home sellers will have a stronger position in the housing market in 2012. Thank you for following my review of Southwest Minneapolis real estate.
