2010 real estate market report
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September 2010
23
ContentsProperty Type
Supply AnalysisDemand Analysis
A free research tool from the Minneapolis Area Association of REALTORS® brought to you by the unique data-sharing traditions of the REALTOR® community
What to Watch ForAlthough the overall inventory of homes available increased 8.5 percent over last year, it really only increased in the single-family detatched submarket due to weak sales activity and actually declined in the townhouse and condo categories. P i l d i t 10 7 t hil t ti d
234
57
91011
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ContentsProperty Type
Supply AnalysisDemand AnalysisPrice Analysis
Price RangeSupply AnalysisDemand Analysis
Historical OverviewSingle-Family DetachedTownhomesCondominiums
Under the MicroscopeSingle-Family DetachedTownhomesCondominiums
A free research tool from the Minneapolis Area Association of REALTORS® brought to you by the unique data-sharing traditions of the REALTOR® community
What to Watch ForAlthough the overall inventory of homes available increased 8.5 percent over last year, it really only increased in the single-family detatched submarket due to weak sales activity and actually declined in the townhouse and condo categories. Previously-owned inventory was up 10.7 percent while new construction was down 10.5 percent.
Inventory of homes for sale in the lower price ranges continues to grow dramatically from last year. With the number of new listings in these segments outpacing closings, the number of available homes for sale has grown. For instance, in the $120,000 and under bracket, the current 5.7 Months Supply of Inventory is a 79.8 percent jump from last year at this time. By contrast, the 34.6 Months Supply of Inventory in the $1,000,001 and up range is a 24.1 percent drop.
Inventory in the higher price ranges is now dropping as sellers have pulled back on their new listings and high-end properties are seeing some movement. All price ranges above $250,000 now have fewer homes for sale than they did a year ago.
Home prices are softest in the condominium category, where the average Price Per Square Foot has dropped 13.0 percent in the last year.
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 1
Housing Supply OutlookProperty Type Supply Analysis
9-2009 9-2010 ChangeAll 25,406 27,563 + 8.5%Previously Owned 22,899 25,344 + 10.7%New Construction 2,507 2,219 - 11.5%Single-Family Detached 17,752 20,015 + 12.7%Previously Owned 16,442 18,581 + 13.0%New Construction 1,310 1,434 + 9.5%Townhomes* 5,034 4,998 - 0.7%Previously Owned 4,371 4,542 + 3.9%New Construction 663 456 - 31.2%Condominiums 2,620 2,550 - 2.7%Previously Owned 2,086 2,221 + 6.5%New Construction 534 329 - 38.4%*Includes twinhomes
September 2010Inventory of Homes for Sale
25,406
17,752
5,034
2,620
27,563
20,015
4,998
2,550
September 2009
September 2010
+ 8.5% + 12.7% - 0.7% - 2.7%
9-2009 9-2010 Change
All 6.9 8.0 + 15.7%Previously Owned 6.8 8.0 + 18.2%New Construction 9.4 8.8 - 6.9%Single-Family Detached 6.3 7.8 + 23.7%Previously Owned 6.2 7.7 + 24.5%New Construction 8.8 9.9 + 11.8%Townhomes* 8.0 7.8 - 2.8%Previously Owned 7.9 8.0 + 0.9%New Construction 8.6 6.2 - 28.0%Condominiums 11.7 11.1 - 5.0%Previously Owned 11.4 11.4 - 0.2%New Construction 13.0 9.6 - 26.6%*Includes twinhomes
Months Supply of Inventory
25,406
17,752
5,034
2,620
27,563
20,015
4,998
2,550
All Single-Family Detached Townhomes Condominium
September 2009
September 2010
6.96.3
8.0
11.7
8.0 7.8 7.8
11.1
All Single-Family Detached Townhouse Condominium
September 2009
September 2010
+ 8.5% + 12.7% - 0.7% - 2.7%
+ 15.7% + 23.7% - 2.8% - 5.0%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 2
Housing Supply OutlookProperty Type Demand Analysis
All 43,888 41,137 - 6.3%Previously Owned 40,691 38,098 - 6.4%New Construction 3,197 3,039 - 4.9%Single-Family Detached 33,656 30,680 - 8.8%Previously Owned 31,872 28,934 - 9.2%New Construction 1,784 1,746 - 2.1%Townhomes* 7,547 7,705 + 2.1%Previously Owned 6,626 6,825 + 3.0%New Construction 921 880 - 4.5%Condominiums 2,685 2,752 + 2.5%Previously Owned 2,193 2,339 + 6.7%New Construction 492 413 - 16.1%*Includes twinhomes
September 2010Home Sales Last Twelve Months
9-2008 through 8-2009
9-2009 through 8-2010
Change43,888
33,656
7,547
2,685
41,137
30,680
7,705
2,752
September 2008 through August 2009
September 2009 through August 2010
- 6.3% - 8.8% + 2.1% + 2.5%
9-2008 through 8-2009
9-2009 through 8-2010
Change
All 91.6% 93.5% + 2.1%Previously Owned 91.5% 93.4% + 2.1%New Construction 93.0% 95.2% + 2.3%Single-Family Detached 92.0% 93.9% + 2.1%Previously Owned 91.9% 93.8% + 2.1%New Construction 92.4% 95.8% + 3.7%Townhomes* 90.7% 93.2% + 2.8%Previously Owned 90.5% 93.0% + 2.8%New Construction 92.2% 95.1% + 3.1%Condominiums 89.9% 90.0% + 0.1%Previously Owned 88.2% 89.5% + 1.5%New Construction 96.7% 92.7% - 4.1%*Includes twinhomes
Pct. of Orig. List Price Received at Sale Last Twelve Months
91.6% 92.0% 90.7% 89.9%93.5% 93.9% 93.2%
90.0%
All Single-Family Detached Townhouse Condominium
September 2008 through August 2009
September 2009 through August 2010
43,888
33,656
7,547
2,685
41,137
30,680
7,705
2,752
All Single-Family Detached Townhouse Condominium
September 2008 through August 2009
September 2009 through August 2010
- 6.3% - 8.8% + 2.1% + 2.5%
+ 2.1% + 2.1% + 2.8% + 0.1%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 3
Housing Supply OutlookProperty Type Price Analysis
Average Sales Price Last Twelve Months9-2008
through 8-2009
9-2009 through 8-2010
Change
All $206,874 $208,601 + 0.8%Previously Owned $196,656 $201,711 + 2.6%New Construction $330,307 $294,394 - 10.9%Single-Family Detached $218,264 $225,492 + 3.3%Previously Owned $209,044 $218,347 + 4.5%New Construction $380,764 $343,538 - 9.8%Townhomes* $160,208 $157,141 - 1.9%Previously Owned $153,200 $151,745 - 0.9%New Construction $206,568 $199,174 - 3.6%Condominiums $196,042 $164,936 - 15.9%Previously Owned $147,654 $141,812 - 4.0%New Construction $386,732 $289,975 - 25.0%*Includes twinhomes
September 2010
$206,874$218,264
$160,208
$196,042$208,601
$225,492
$157,141$164,93
All Single Family Detached Townhouse Condominium
September 2008 through August 2009
September 2009 through August 2010
+ 0.8% + 3.3% - 1.9% - 15.9%
9-2008 through 8-2009
9-2009 through 8-2010
Change
All $106 $106 - 0.2%Previously Owned $102 $103 + 1.0%New Construction $152 $138 - 9.3%Single-Family Detached $104 $107 + 2.1%Previously Owned $102 $105 + 2.4%New Construction $141 $137 - 3.2%Townhomes* $96 $93 - 2.7%Previously Owned $94 $91 - 2.4%New Construction $111 $107 - 3.0%Condominiums $156 $136 - 13.0%Previously Owned $130 $123 - 5.4%New Construction $259 $205 - 20.7%*Includes twinhomes
Last Twelve MonthsAverage Price Per Square Foot
$206,874$218,264
$160,208
$196,042$208,601
$225,492
$157,141$164,93
All Single-Family Detached Townhouse Condominium
September 2008 through August 2009
September 2009 through August 2010
$106 $104$96
$156
$106 $107
$93
$136
All Single-Family Detached Townhouse Condominium
September 2008 through August 2009
September 2009 through August 2010
+ 0.8% + 3.3% - 1.9% - 15.9%
- 0.2% + 2.1% - 2.7% - 13.0%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 4
Housing Supply OutlookPrice Range Supply Analysis (Page 1 of 2)
Inventory of Homes for Sale
Price Range 9-2009 9-2010 Change 9-2009 9-2010 Change 9-2009 9-2010 Change$120,000 and below 3,167 4,714 + 48.8% 3,117 4,657 + 49.4% 50 57 + 14.0%$120,001 to $150,000 2,645 3,699 + 39.8% 2,505 3,554 + 41.9% 140 145 + 3.6%$150,001 to $190,000 4,117 4,656 + 13.1% 3,739 4,301 + 15.0% 378 355 - 6.1%$190,001 to $250,000 4,788 4,844 + 1.2% 4,288 4,384 + 2.2% 500 460 - 8.0%$250,001 to $350,000 4,257 4,070 - 4.4% 3,707 3,541 - 4.5% 550 529 - 3.8%$350,001 to $500,000 2,985 2,677 - 10.3% 2,594 2,334 - 10.0% 391 343 - 12.3%$500,001 to $1,000,000 2,578 2,191 - 15.0% 2,210 1,953 - 11.6% 368 238 - 35.3%$1,000,001 and above 869 712 - 18.1% 739 620 - 16.1% 130 92 - 29.2%All Price Ranges 25,406 27,563 + 8.5% 22,899 25,344 + 10.7% 2,507 2,219 - 11.5%
Previously Owned New ConstructionAll
September 2010
September 2009
3,167
2,645
4,117
4,788
4,257
2,985
2,578
869
4,714
3,699
4,6564,844
4,070
2,677
2,191
712
$120,000 and below $120,001 to $150,000 $150,001 to $190,000 $190,001 to $250,000 $250,001 to $350,000 $350,001 to $500,000 $500,001 to $1,000,000 $1,000,001 and above
September 2009
September 2010
+ 48.8% + 39.8% + 13.1% + 1.2% - 4.4% - 10.3% - 15.0% - 18.1%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 5
Housing Supply OutlookPrice Range Supply Analysis (Page 2 of 2)
Months Supply of Current Inventory
Price Range 9-2009 9-2010 Change 9-2009 9-2010 Change 9-2009 9-2010 Change$120,000 and below 3.1 5.7 + 79.8% 3.1 5.7 + 81.0% 5.1 5.4 + 6.8%$120,001 to $150,000 5.0 6.9 + 37.4% 5.0 7.0 + 39.1% 5.9 6.2 + 5.4%$150,001 to $190,000 6.5 7.5 + 15.2% 6.4 7.5 + 17.8% 8.4 7.4 - 10.8%$190,001 to $250,000 7.4 8.1 + 9.3% 7.2 8.0 + 10.8% 9.2 8.9 - 3.6%$250,001 to $350,000 9.2 9.3 + 0.5% 9.2 9.2 + 0.1% 9.4 9.7 + 3.2%$350,001 to $500,000 12.4 10.8 - 12.5% 13.0 11.1 - 14.5% 9.6 9.4 - 1.6%$500,001 to $1,000,000 20.5 16.3 - 20.6% 22.8 17.9 - 21.6% 12.8 9.5 - 26.3%$1,000,001 and above 41.7 31.6 - 24.1% 47.2 33.1 - 29.9% 25.2 24.5 - 2.5%All Price Ranges 6.9 8.0 + 15.7% 6.8 8.0 + 18.2% 9.4 8.8 - 6.9%
Previously Owned New ConstructionAll
September 2010
41.7
3.15.0
6.5 7.49.2
12.4
20.5
41.7
5.76.9 7.5 8.1
9.310.8
16.3
31.6
$120,000 and below $120,001 to $150,000 $150,001 to $190,000 $190,001 to $250,000 $250,001 to $350,000 $350,001 to $500,000 $500,001 to $1,000,000 $1,000,001 and above
September 2009 September 2010
+ 79.8% + 37.4% + 15.2% + 9.3% + 0.5% - 12.5% - 20.6% - 24.1%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 6
Housing Supply OutlookPrice Range Demand Analysis (Page 1 of 2)
Price RangeSeptember 2008 through August
2009
September 2009 through August
2010Change
September 2008 through August
2009
September 2009 through August
2010Change
September 2008 through August
2009
September 2009 through August
2010Change
$120,000 and below 12,068 9,990 - 17.2% 11,950 9,864 - 17.5% 118 126 + 6.8%$120,001 to $150,000 6,295 6,409 + 1.8% 6,010 6,129 + 2.0% 285 280 - 1.8%$150,001 to $190,000 7,547 7,411 - 1.8% 7,004 6,839 - 2.4% 543 572 + 5.3%$190,001 to $250,000 7,798 7,216 - 7.5% 7,147 6,595 - 7.7% 651 621 - 4.6%$250,001 to $350,000 5,532 5,265 - 4.8% 4,828 4,609 - 4.5% 704 656 - 6.8%$350,001 to $500,000 2,892 2,964 + 2.5% 2,402 2,527 + 5.2% 490 437 - 10.8%$500,001 to $1,000,000 1,506 1,612 + 7.0% 1,162 1,310 + 12.7% 344 302 - 12.2%$1,000,001 and above 250 270 + 8.0% 188 225 + 19.7% 62 45 - 27.4%All Price Ranges 43,888 41,137 - 6.3% 40,691 38,098 - 6.4% 3,197 3,039 - 4.9%
Previously Owned New ConstructionAll
September 2010
Home Sales Last Twelve Months
12,068
6,295
7,547 7,798
5,532
2,892
1,506
250
9,990
6,409
7,411 7,216
5,265
2,964
1,612
270
$120,000 and below $120,001 to $150,000 $150,001 to $190,000 $190,001 to $250,000 $250,001 to $350,000 $350,001 to $500,000 $500,001 to $1,000,000 $1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
- 17.2% + 1.8% - 1.8% - 7.5% - 4.8% + 2.5% + 7.0%
+ 8.0%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 7
Housing Supply OutlookPrice Range Demand Analysis (Page 2 of 2)
Percent of Original List Price Received at Sale Last Twelve Months
Price RangeSeptember 2008 through August
2009
September 2009 through August
2010Change
September 2008 through August
2009
September 2009 through August
2010Change
September 2008 through August
2009
September 2009 through August
2010Change
$120,000 and below 86.2% 88.3% + 2.4% 86.0% 88.2% + 2.6% 92.8% 89.2% - 3.9%$120,001 to $150,000 89.3% 90.8% + 1.7% 89.1% 90.8% + 1.8% 91.7% 91.0% - 0.8%$150,001 to $190,000 90.6% 90.6% - 0.0% 89.8% 90.3% + 0.5% 93.0% 91.9% - 1.2%$190,001 to $250,000 92.7% 92.0% - 0.7% 92.3% 91.5% - 0.9% 93.4% 93.2% - 0.2%$250,001 to $350,000 92.7% 92.2% - 0.6% 91.1% 91.4% + 0.3% 94.8% 93.4% - 1.5%$350,001 to $500,000 93.4% 92.1% - 1.4% 89.4% 90.7% + 1.5% 97.6% 94.2% - 3.5%$500,001 to $1,000,000 100.6% 91.9% - 8.6% 91.0% 91.6% + 0.7% 104.4% 92.3% - 11.6%$1,000,001 and above 107.3% 94.6% - 11.9% 82.5% 84.8% + 2.8% 112.1% 97.3% - 13.2%All Price Ranges 89.9% 90.0% + 0.1% 88.2% 89.5% + 1.5% 96.7% 92.7% - 4.1%
Previously Owned New ConstructionAll
September 2010
September 2008 through August 2009
86.2%89.3% 90.6%
92.7% 92.7% 93.4%
100.6%
107.3%
88.3%90.8% 90.6% 92.0% 92.2% 92.1% 91.9%
94.6%
$120,000 and below $120,001 to $150,000 $150,001 to $190,000 $190,001 to $250,000 $250,001 to $350,000 $350,001 to $500,000 $500,001 to $1,000,000 $1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
+ 2.4% + 1.7% - 0.0% - 0.7% - 0.6% - 1.4% - 8.6% - 11.9%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 8
Housing Supply OutlookHistorical Overview of Single-Family DetachedSeptember 2010
24,45622,292
17,75220,015
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleSingle-Family Detached
9.8 9.4
6.3
7.8
9-2007 9-2008 9-2009 9-2010
Months Supply of InventorySingle-Family Detached
29,829 28,46733,656
30,680
Home Sales Previous Twelve MonthsSingle-Family Detached
95.0%92.0% 92.0% 93.9%
Single-Family Detached
- 8.8%
One Year Change:
- 20.4%
One Year Change:
+ 12.7%
One Year Change:
- 4.5%
One Year Change:
- 32.6%
One Year Change:
+ 23.7%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
24,45622,292
17,75220,015
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleSingle-Family Detached
9.8 9.4
6.3
7.8
9-2007 9-2008 9-2009 9-2010
Months Supply of InventorySingle-Family Detached
29,829 28,46733,656
30,680
9-2007 9-2008 9-2009 9-2010
Home Sales Previous Twelve MonthsSingle-Family Detached
95.0%92.0% 92.0% 93.9%
9-2007 9-2008 9-2009 9-2010
Single-Family Detached
$302,522$271,714
$218,264 $225,492
9-2007 9-2008 9-2009 9-2010
Average Sales Price Previous Twelve MonthsSingle-Family Detached $144
$127
$104 $107
9-2007 9-2008 9-2009 9-2010
Single-Family Detached
- 8.8%
One Year Change:
- 20.4%
One Year Change:
+ 12.7%
One Year Change:
- 4.5%
One Year Change:
- 32.6%
One Year Change:
+ 23.7%
One Year Change:
- 4.6%
One Year Change:
+ 18.2%
One Year Change:
- 8.8%
One Year Change:
- 10.2%
One Year Change:
- 19.7%
One Year Change:
+ 3.3%
One Year Change:
- 3.2%
One Year Change:
- 0.0%
One Year Change:
+ 2.1%
One Year Change:
- 11.6%
One Year Change:
- 17.8%
One Year Change:
+ 2.1%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
Avg. Sales Price Per Square Foot Previous Twelve Months
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 9
Housing Supply OutlookHistorical Overview of TownhomesSeptember 2010
6,9376,339
5,034 4,998
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleTownhomes
9.811.0
8.0 7.8
9-2007 9-2008 9-2009 9-2010
Months Supply of InventoryTownhomes
8,524
6,9387,547 7,705
Home Sales Previous Twelve MonthsTownhomes
95.9%93.2% 90.7% 93.2%
Townhomes
- 8.6%
One Year Change:
- 20.6%
One Year Change:
- 0.7%
One Year Change:
+ 12.3%
One Year Change:
- 27.0%
One Year Change:
- 2.8%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
6,9376,339
5,034 4,998
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleTownhomes
9.811.0
8.0 7.8
9-2007 9-2008 9-2009 9-2010
Months Supply of InventoryTownhomes
8,524
6,9387,547 7,705
9-2007 9-2008 9-2009 9-2010
Home Sales Previous Twelve MonthsTownhomes
95.9%93.2% 90.7% 93.2%
9-2007 9-2008 9-2009 9-2010
Townhomes
$210,183 $198,383
$160,208 $157,141
9-2007 9-2008 9-2009 9-2010
Average Sales Price Previous Twelve MonthsTownhomes
$127$116
$96 $93
9-2007 9-2008 9-2009 9-2010
Townhomes
- 8.6%
One Year Change:
- 20.6%
One Year Change:
- 0.7%
One Year Change:
+ 12.3%
One Year Change:
- 27.0%
One Year Change:
- 2.8%
One Year Change:
- 18.6%
One Year Change:
+ 8.8%
One Year Change:
+ 2.1%
One Year Change:
- 5.6%
One Year Change:
- 19.2%
One Year Change:
- 1.9%
One Year Change:
- 2.9%
One Year Change:
- 2.7%
One Year Change:
+ 2.8%
One Year Change:
- 8.4%
One Year Change:
- 17.6%
One Year Change:
- 2.7%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
Avg. Sales Price Per Square Foot Previous Twelve Months
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 10
Housing Supply OutlookHistorical Overview of CondominiumsSeptember 2010
3,4152,959
2,620 2,550
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleCondominiums
10.8
12.6
11.7
11.1
9-2007 9-2008 9-2009 9-2010
Months Supply of InventoryCondominiums
3,782
2,817 2,685 2,752
Home Sales Previous Twelve MonthsCondominiums
96.0% 93.4%89.9% 90.0%
Condominiums
- 13.4%
One Year Change:
- 11.5%
One Year Change:
- 2.7%
One Year Change:
+ 16.3%
One Year Change:
- 7.1%
One Year Change:
- 5.0%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
3,4152,959
2,620 2,550
9-2007 9-2008 9-2009 9-2010
Inventory of Homes for SaleCondominiums
10.8
12.6
11.7
11.1
9-2007 9-2008 9-2009 9-2010
Months Supply of InventoryCondominiums
3,782
2,817 2,685 2,752
9-2007 9-2008 9-2009 9-2010
Home Sales Previous Twelve MonthsCondominiums
96.0% 93.4%89.9% 90.0%
9-2007 9-2008 9-2009 9-2010
Condominiums
$195,548
$217,482
$196,042
$164,936
9-2007 9-2008 9-2009 9-2010
Average Sales Price Previous Twelve MonthsCondominiums
$181 $182
$156
$136
9-2007 9-2008 9-2009 9-2010
Condominiums
- 13.4%
One Year Change:
- 11.5%
One Year Change:
- 2.7%
One Year Change:
+ 16.3%
One Year Change:
- 7.1%
One Year Change:
- 5.0%
One Year Change:
- 25.5%
One Year Change:
- 4.7%
One Year Change:
+ 2.5%
One Year Change:
+ 11.2%
One Year Change:
- 9.9%
One Year Change:
- 15.9%
One Year Change:
- 2.7%
One Year Change:
- 3.7%
One Year Change:
+ 0.1%
One Year Change:
+ 0.4%
One Year Change:
- 14.3%
One Year Change:
- 13.0%
One Year Change:
Percent. Of Orig. List Price Rec'd. Previous Twelve Months
Avg. Sales Price Per Square Foot Previous Twelve Months
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 11
Housing Supply OutlookUnder the Microscope: Single-Family Detached (Page 1 of 2)
9-2009 9-2010 Change$120,000 and below 1,629 2,378 + 46.0%Previously Owned 1,626 2,371 + 45.8%New Construction 3 0 - 100.0%$120,001 to $150,000 1,256 2,142 + 70.5%Previously Owned 1,228 2,085 + 69.8%New Construction 28 57 + 103.6%$150,001 to $190,000 2,291 3,231 + 41.0%Previously Owned 2,199 3,061 + 39.2%New Construction 92 170 + 84.8%$190,001 to $250,000 3,556 3,898 + 9.6%Previously Owned 3,338 3,605 + 8.0%New Construction 218 293 + 34.4%$250,001 to $350,000 3,379 3,417 + 1.1%Previously Owned 3,048 3,024 - 0.8%New Construction 331 393 + 18.7%$350,001 to $500,000 2,539 2,300 - 9.4%Previously Owned 2,266 2,048 - 9.6%New Construction 273 252 - 7.7%$500,001 to $1,000,000 2,297 1,996 - 13.1%Previously Owned 2,032 1,795 - 11.7%New Construction 265 201 - 24.2%$1,000,001 and above 805 653 - 18.9%Previously Owned 705 592 16 0%
September 2010Inventory of Homes for Sale
1,629
1,256
2,291
3,5563,379
2,5392,297
805
2,3782,142
3,231
3,898
3,417
2,300
1,996
653
$120,000 and $120,001 to $150,001 to $190,001 to $250,001 to $350,001 to $500,001 to $1,000,001 and
September 2009
September 2010
+ 46.0% + 70.5% + 41.0% + 9.6% + 1.1% - 9.4% - 13.1% - 18.9%
Single-Family Detached Inventory: + 12.7%Previously Owned: + 13.0%New Construction: + 9.5%
Previously Owned 705 592 - 16.0%New Construction 100 61 - 39.0%
9-2009 9-2010 Change$120,000 and below 2.3 4.6 + 99.8%Previously Owned 2.3 4.6 + 99.5%New Construction 2.0 7.0 + 250.0%$120,001 to $150,000 3.7 6.2 + 69.3%Previously Owned 3.7 6.2 + 68.7%New Construction 4.7 8.9 + 90.4%$150,001 to $190,000 5.0 7.1 + 41.5%Previously Owned 5.0 7.0 + 40.7%New Construction 5.8 8.9 + 51.8%$190,001 to $250,000 6.5 7.8 + 20.2%Previously Owned 6.4 7.6 + 19.5%New Construction 8.9 11.1 + 24.7%$250,001 to $350,000 8.4 9.0 + 7.1%Previously Owned 8.5 8.9 + 5.5%New Construction 8.1 9.8 + 21.2%$350,001 to $500,000 11.7 10.5 - 10.9%Previously Owned 12.3 10.8 - 12.8%New Construction 8.4 8.6 + 2.3%$500,001 to $1,000,000 20.2 16.5 - 18.2%Previously Owned 22.5 17.8 - 20.8%New Construction 11.2 9.9 - 12.0%$1,000,001 and above 42.6 31.1 - 26.9%Previously Owned 47.3 32.6 - 31.1%New Construction 25.0 21.5 - 13.9%
Months Supply of Inventory
1,629
1,256
2,291
3,5563,379
2,5392,297
805
2,3782,142
3,231
3,898
3,417
2,300
1,996
653
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009
September 2010
+ 46.0% + 70.5% + 41.0% + 9.6% + 1.1% - 9.4% - 13.1%
2.33.7
5.06.5
8.4
11.7
20.2
42.6
4.66.2 7.1 7.8
9.010.5
16.5
31.1
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009September 2010
+ 99.8% + 69.3% + 41.5% + 20.2% + 7.1% - 10.9% - 18.2% - 26.9%
- 18.9%
Single-Family Detached Inventory: + 12.7%Previously Owned: + 13.0%New Construction: + 9.5%
Single-Family Detached Months Supply: + 23.7%
New Construction: + 11.8%Previously Owned: + 24.5%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 12
Housing Supply OutlookUnder the Microscope: Single-Family Detached (Page 2 of 2)
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 8,527 6,231 - 26.9%Previously Owned 8,509 6,219 - 26.9%New Construction 18 12 - 33.3%$120,001 to $150,000 4,083 4,113 + 0.7%Previously Owned 4,011 4,036 + 0.6%New Construction 72 77 + 6.9%$150,001 to $190,000 5,484 5,467 - 0.3%Previously Owned 5,295 5,237 - 1.1%New Construction 189 230 + 21.7%$190,001 to $250,000 6,559 5,981 - 8.8%Previously Owned 6,265 5,664 - 9.6%New Construction 294 317 + 7.8%$250,001 to $350,000 4,815 4,546 - 5.6%Previously Owned 4,325 4,066 - 6.0%New Construction 490 480 - 2.0%$350,001 to $500,000 2,594 2,637 + 1.7%Previously Owned 2,204 2,285 + 3.7%New Construction 390 352 - 9.7%$500,001 to $1,000,000 1,367 1,453 + 6.3%Previously Owned 1,084 1,209 + 11.5%New Construction 283 244 - 13.8%$1,000,001 and above 227 252 + 11.0%Previously Owned 179 218 + 21 8%
September 2010Home Sales Last Twelve Months
8,527
4,083
5,484
6,559
4,815
2,594
1,367
227
6,231
4,113
5,4675,981
4,546
2,637
1,453
252
$120 000 and $120 001 to $150 001 to $190 001 to $250 001 to $350 001 to $500 001 to $1 000 001 and
September 2008 through August 2009
September 2009 through August 2010
- 26.9% + 0.7% - 0.3% - 8.8% - 5.6% + 1.7% + 6.3%
+ 11.0%
Single-Family Detached Sales: - 8.8%
New Construction: - 2.1%Previously Owned: - 9.2%
Previously Owned 179 218 + 21.8%New Construction 48 34 - 29.2%
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 90.0% 95.3% + 5.9%Previously Owned 90.0% 95.3% + 5.9%New Construction 88.1% 88.3% + 0.2%$120,001 to $150,000 92.2% 94.3% + 2.4%Previously Owned 92.2% 94.3% + 2.3%New Construction 91.3% 96.4% + 5.7%$150,001 to $190,000 93.0% 94.1% + 1.2%Previously Owned 93.0% 94.0% + 1.1%New Construction 92.7% 96.7% + 4.3%$190,001 to $250,000 93.6% 94.1% + 0.6%Previously Owned 93.5% 94.0% + 0.4%New Construction 94.2% 96.9% + 2.9%$250,001 to $350,000 92.5% 93.6% + 1.2%Previously Owned 92.6% 93.3% + 0.7%New Construction 91.8% 96.3% + 4.9%$350,001 to $500,000 91.6% 92.3% + 0.7%Previously Owned 91.4% 91.8% + 0.5%New Construction 92.7% 95.3% + 2.8%$500,001 to $1,000,000 90.3% 90.6% + 0.3%Previously Owned 89.8% 89.9% + 0.1%New Construction 92.2% 94.3% + 2.2%$1,000,001 and above 85.3% 84.6% - 0.8%Previously Owned 84.1% 84.3% + 0.2%New Construction 88.8% 86.5% - 2.6%
Percent of Original List Price Received at Sale Last Twelve Months
8,527
4,083
5,484
6,559
4,815
2,594
1,367
227
6,231
4,113
5,4675,981
4,546
2,637
1,453
252
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
- 26.9% + 0.7% - 0.3% - 8.8% - 5.6% + 1.7% + 6.3%
90.0%92.2% 93.0% 93.6% 92.5% 91.6% 90.3%
85.3%
95.3% 94.3% 94.1% 94.1% 93.6% 92.3%90.6%
84.6%
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
+ 5.9% + 2.4% + 1.2% + 0.6% + 1.2% + 0.7% + 0.3% - 0.8%
+ 11.0%
Single-Family Detached Sales: - 8.8%
New Construction: - 2.1%Previously Owned: - 9.2%
Single-Family Detached Percent of OLP Received: + 2.1%
New Construction: + 3.7%Previously Owned: + 2.1%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 13
Housing Supply OutlookUnder the Microscope: Townhomes (Page 1 of 2)
9-2009 9-2010 Change$120,000 and below 759 1,312 + 72.9%Previously Owned 728 1,279 + 75.7%New Construction 31 0 - 100.0%$120,001 to $150,000 1,025 1,220 + 19.0%Previously Owned 953 1,158 + 21.5%New Construction 72 62 - 13.9%$150,001 to $190,000 1,417 1,096 - 22.7%Previously Owned 1,232 978 - 20.6%New Construction 185 118 - 36.2%$190,001 to $250,000 851 629 - 26.1%Previously Owned 680 524 - 22.9%New Construction 171 105 - 38.6%$250,001 to $350,000 547 394 - 28.0%Previously Owned 444 322 - 27.5%New Construction 103 72 - 30.1%$350,001 to $500,000 255 223 - 12.5%Previously Owned 206 174 - 15.5%New Construction 49 49 - 0.0%$500,001 to $1,000,000 163 107 - 34.4%Previously Owned 114 96 - 15.8%New Construction 49 11 - 77.6%$1,000,001 and above 17 17 - 0.0%Previously Owned 14 11 21 4%
September 2010Inventory of Homes for Sale
759
1,025
1,417
851
547
255163
17
1,3121,220
1,096
629
394
223
10717
$120,000 and $120,001 to $150,001 to $190,001 to $250,001 to $350,001 to $500,001 to $1,000,001 and
September 2009
September 2010
+ 72.9% + 19.0% - 22.7% - 26.1% - 28.0% - 12.5% - 34.4%- 0.0%
Townhome Inventory: - 0.7%Previously Owned: + 3.9%New Construction: - 31.2%
Previously Owned 14 11 - 21.4%New Construction 3 6 + 100.0%
9-2009 9-2010 Change$120,000 and below 3.8 6.3 + 67.3%Previously Owned 3.7 6.4 + 70.9%New Construction 4.8 4.4 - 9.9%$120,001 to $150,000 6.7 7.6 + 13.2%Previously Owned 7.0 7.8 + 12.2%New Construction 4.6 5.1 + 10.7%$150,001 to $190,000 9.9 8.2 - 17.6%Previously Owned 10.2 8.9 - 13.2%New Construction 8.4 5.0 - 40.5%$190,001 to $250,000 11.3 8.3 - 26.4%Previously Owned 12.3 8.9 - 27.2%New Construction 8.5 6.1 - 28.2%$250,001 to $350,000 15.0 10.0 - 33.3%Previously Owned 15.5 10.0 - 35.4%New Construction 13.1 9.9 - 24.5%$350,001 to $500,000 18.4 13.2 - 28.1%Previously Owned 19.0 12.8 - 32.6%New Construction 16.3 15.1 - 7.7%$500,001 to $1,000,000 28.3 15.9 - 44.1%Previously Owned 26.8 19.9 - 26.0%New Construction 32.7 5.7 - 82.4%$1,000,001 and above 51.0 34.0 - 33.3%Previously Owned 42.0 33.0 - 21.4%New Construction NA 36.0 NA
Months Supply of Inventory
759
1,025
1,417
851
547
255163
17
1,3121,220
1,096
629
394
223
10717
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009
September 2010
+ 72.9% + 19.0% - 22.7% - 26.1% - 28.0% - 12.5% - 34.4%
3.86.7
9.9 11.3
15.018.4
28.3
51.0
6.3 7.6 8.2 8.310.0
13.215.9
34.0
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009
September 2010
+ 67.3% + 13.2% - 17.6% - 26.4% - 33.3% - 28.1% - 44.1% - 33.3%
- 0.0%
Townhome Inventory: - 0.7%Previously Owned: + 3.9%New Construction: - 31.2%
Townhome Months Supply: - 2.8%
New Construction: - 28.0%Previously Owned: + 0.9%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 14
Housing Supply OutlookUnder the Microscope: Townhomes (Page 2 of 2)
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 2,416 2,496 + 3.3%Previously Owned 2,339 2,405 + 2.8%New Construction 77 91 + 18.2%$120,001 to $150,000 1,834 1,928 + 5.1%Previously Owned 1,645 1,781 + 8.3%New Construction 189 147 - 22.2%$150,001 to $190,000 1,714 1,609 - 6.1%Previously Owned 1,449 1,325 - 8.6%New Construction 265 284 + 7.2%$190,001 to $250,000 906 910 + 0.4%Previously Owned 664 703 + 5.9%New Construction 242 207 - 14.5%$250,001 to $350,000 438 473 + 8.0%Previously Owned 344 386 + 12.2%New Construction 94 87 - 7.4%$350,001 to $500,000 166 202 + 21.7%Previously Owned 130 163 + 25.4%New Construction 36 39 + 8.3%$500,001 to $1,000,000 69 81 + 17.4%Previously Owned 51 58 + 13.7%New Construction 18 23 + 27.8%$1,000,001 and above 4 6 + 50.0%Previously Owned 4 4 - 0 0%
September 2010Home Sales Last Twelve Months
2,416
1,8341,714
906
438
16669 4
2,496
1,928
1,609
910
473
20281 6
$120 000 and $120 001 to $150 001 to $190 001 to $250 001 to $350 001 to $500 001 to $1 000 001 and
September 2008 through August 2009
September 2009 through August 2010
+ 3.3% + 5.1% - 6.1% + 0.4% + 8.0% + 21.7%
+ 17.4% + 50.0%
Townhome Sales: + 2.1%
New Construction: - 4.5%Previously Owned: + 3.0%
Previously Owned 4 4 - 0.0%New Construction 0 2 NA
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 87.1% 93.1% + 6.9%Previously Owned 87.3% 93.1% + 6.7%New Construction 82.7% 92.6% + 11.9%$120,001 to $150,000 91.9% 93.6% + 1.9%Previously Owned 91.8% 93.5% + 1.8%New Construction 92.9% 95.2% + 2.4%$150,001 to $190,000 92.7% 93.8% + 1.2%Previously Owned 92.6% 93.2% + 0.7%New Construction 93.4% 96.8% + 3.7%$190,001 to $250,000 91.9% 92.7% + 0.9%Previously Owned 91.7% 92.1% + 0.4%New Construction 92.4% 94.5% + 2.3%$250,001 to $350,000 91.6% 92.6% + 1.2%Previously Owned 91.7% 92.0% + 0.4%New Construction 91.2% 95.5% + 4.6%$350,001 to $500,000 91.5% 91.9% + 0.4%Previously Owned 90.8% 91.9% + 1.2%New Construction 94.0% 91.6% - 2.5%$500,001 to $1,000,000 90.7% 88.8% - 2.0%Previously Owned 88.7% 88.1% - 0.6%New Construction 97.0% 90.5% - 6.6%$1,000,001 and above 110.2% 92.2% - 16.3%Previously Owned 90.4% 89.6% - 0.8%New Construction 122.0% 100.0% - 18.1%
Percent of Original List Price Received at Sale Last Twelve Months
2,416
1,8341,714
906
438
16669 4
2,496
1,928
1,609
910
473
20281 6
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
+ 3.3% + 5.1% - 6.1% + 0.4% + 8.0% + 21.7%
+ 17.4%
87.1%
91.9% 92.7% 91.9% 91.6% 91.5% 90.7%93.1% 93.6% 93.8% 92.7% 92.6% 91.9%
88.8%92.2%
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009September 2009 through August 2010
+ 6.9% + 1.9% + 1.2% + 0.9% + 1.2% + 0.4% - 2.0% - 16.3%
+ 50.0%
Townhome Sales: + 2.1%
New Construction: - 4.5%Previously Owned: + 3.0%
Townhome Percent of OLP Received: + 2.8%
New Construction: + 3.1%Previously Owned: + 2.8%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 15
Housing Supply OutlookUnder the Microscope: Condominiums (Page 1 of 2)
9-2009 9-2010 Change$120,000 and below 779 1,024 + 31.5%Previously Owned 763 1,007 + 32.0%New Construction 16 0 - 100.0%$120,001 to $150,000 364 337 - 7.4%Previously Owned 324 311 - 4.0%New Construction 40 26 - 35.0%$150,001 to $190,000 409 329 - 19.6%Previously Owned 308 262 - 14.9%New Construction 101 67 - 33.7%$190,001 to $250,000 381 317 - 16.8%Previously Owned 270 255 - 5.6%New Construction 111 62 - 44.1%$250,001 to $350,000 331 259 - 21.8%Previously Owned 215 195 - 9.3%New Construction 116 64 - 44.8%$350,001 to $500,000 191 154 - 19.4%Previously Owned 122 112 - 8.2%New Construction 69 42 - 39.1%$500,001 to $1,000,000 118 88 - 25.4%Previously Owned 64 62 - 3.1%New Construction 54 26 - 51.9%$1,000,001 and above 47 42 - 10.6%Previously Owned 20 17 15 0%
September 2010Inventory of Homes for Sale
779
364409 381
331
191118
47
1,024
337 329 317259
15488
42
$120,000 and $120,001 to $150,001 to $190,001 to $250,001 to $350,001 to $500,001 to $1,000,001 and
September 2009 September 2010
+ 31.5% - 7.4% - 19.6% - 16.8% - 21.8% - 19.4% - 25.4%
- 10.6%
Condominium Inventory: - 2.7%Previously Owned: + 6.5%New Construction: - 38.4%
Previously Owned 20 17 - 15.0%New Construction 27 25 - 7.4%
9-2009 9-2010 Change$120,000 and below 8.3 9.7 + 17.1%Previously Owned 8.3 9.7 + 17.3%New Construction 8.3 8.9 + 6.3%$120,001 to $150,000 11.6 11.0 - 4.9%Previously Owned 11.0 12.0 + 8.9%New Construction 20.0 5.6 - 72.1%$150,001 to $190,000 14.1 11.8 - 16.2%Previously Owned 14.2 11.4 - 20.2%New Construction 13.6 13.9 + 1.8%$190,001 to $250,000 13.7 11.7 - 14.7%Previously Owned 14.9 13.4 - 9.7%New Construction 11.6 7.7 - 33.8%$250,001 to $350,000 14.2 12.6 - 11.3%Previously Owned 16.2 14.9 - 8.1%New Construction 11.6 8.6 - 25.6%$350,001 to $500,000 17.4 14.8 - 14.9%Previously Owned 21.5 17.0 - 21.0%New Construction 12.9 11.0 - 15.3%$500,001 to $1,000,000 20.2 13.5 - 33.1%Previously Owned 28.4 17.3 - 39.2%New Construction 15.1 8.9 - 40.8%$1,000,001 and above 29.7 42.0 + 41.5%Previously Owned 48.0 68.0 + 41.7%New Construction 23.1 33.3 + 44.0%
Months Supply of Inventory
779
364409 381
331
191118
47
1,024
337 329 317259
15488
42
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009 September 2010
+ 31.5% - 7.4% - 19.6% - 16.8% - 21.8% - 19.4% - 25.4%
8.3
11.614.1 13.7 14.2
17.4
20.2
29.7
9.711.0 11.8 11.7 12.6
14.813.5
42.0
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2009September 2010
+ 17.1% - 4.9% - 16.2% - 14.7% - 11.3% - 14.9% - 33.1% + 41.5%
- 10.6%
Condominium Inventory: - 2.7%Previously Owned: + 6.5%New Construction: - 38.4%
Condominium Months Supply: - 5.0%
New Construction: - 26.6%Previously Owned: - 0.2%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 16
Housing Supply OutlookUnder the Microscope: Condominiums (Page 2 of 2)
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 1,125 1,263 + 12.3%Previously Owned 1,102 1,240 + 12.5%New Construction 23 23 - 0.0%$120,001 to $150,000 378 368 - 2.6%Previously Owned 354 312 - 11.9%New Construction 24 56 + 133.3%$150,001 to $190,000 349 335 - 4.0%Previously Owned 260 277 + 6.5%New Construction 89 58 - 34.8%$190,001 to $250,000 333 325 - 2.4%Previously Owned 218 228 + 4.6%New Construction 115 97 - 15.7%$250,001 to $350,000 279 246 - 11.8%Previously Owned 159 157 - 1.3%New Construction 120 89 - 25.8%$350,001 to $500,000 132 125 - 5.3%Previously Owned 68 79 + 16.2%New Construction 64 46 - 28.1%$500,001 to $1,000,000 70 78 + 11.4%Previously Owned 27 43 + 59.3%New Construction 43 35 - 18.6%$1,000,001 and above 19 12 - 36.8%Previously Owned 5 3 - 40 0%
September 2010Home Sales Last Twelve Months
1,125
378 349 333279
13270
19
1,263
368 335 325246
12578
12
$120,000 and $120,001 to $150,001 to $190,001 to $250,001 to $350,001 to $500,001 to $1,000,001 and
September 2008 through August 2009
September 2009 through August 2010
+ 12.3% - 2.6% - 4.0% - 2.4% - 11.8% - 5.3% + 11.4%
- 36.8%
Condominium Sales: + 2.5%
New Construction: - 16.1%Previously Owned: + 6.7%
Previously Owned 5 3 - 40.0%New Construction 14 9 - 35.7%
9-2008 through 8-
9-2009 through 8-2010 Change
$120,000 and below 86.2% 88.3% + 2.4%Previously Owned 86.0% 88.2% + 2.6%New Construction 92.8% 89.2% - 3.9%$120,001 to $150,000 89.3% 90.8% + 1.7%Previously Owned 89.1% 90.8% + 1.8%New Construction 91.7% 91.0% - 0.8%$150,001 to $190,000 90.6% 90.6% - 0.0%Previously Owned 89.8% 90.3% + 0.5%New Construction 93.0% 91.9% - 1.2%$190,001 to $250,000 92.7% 92.0% - 0.7%Previously Owned 92.3% 91.5% - 0.9%New Construction 93.4% 93.2% - 0.2%$250,001 to $350,000 92.7% 92.2% - 0.6%Previously Owned 91.1% 91.4% + 0.3%New Construction 94.8% 93.4% - 1.5%$350,001 to $500,000 93.4% 92.1% - 1.4%Previously Owned 89.4% 90.7% + 1.5%New Construction 97.6% 94.2% - 3.5%$500,001 to $1,000,000 100.6% 91.9% - 8.6%Previously Owned 91.0% 91.6% + 0.7%New Construction 104.4% 92.3% - 11.6%$1,000,001 and above 107.3% 94.6% - 11.9%Previously Owned 82.5% 84.8% + 2.8%New Construction 112.1% 97.3% - 13.2%
Percent of Original List Price Received at Sale Last Twelve Months
1,125
378 349 333279
13270
19
1,263
368 335 325246
12578
12
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009
September 2009 through August 2010
+ 12.3% - 2.6% - 4.0% - 2.4% - 11.8% - 5.3% + 11.4%
86.2%89.3% 90.6%
92.7% 92.7% 93.4%
100.6%
107.3%
88.3%90.8% 90.6% 92.0% 92.2% 92.1% 91.9%
94.6%
$120,000 and below
$120,001 to $150,000
$150,001 to $190,000
$190,001 to $250,000
$250,001 to $350,000
$350,001 to $500,000
$500,001 to $1,000,000
$1,000,001 and above
September 2008 through August 2009September 2009 through August 2010
+ 2.4% + 1.7% - 0.0% - 0.7% - 0.6% - 1.4% - 8.6% - 11.9%
- 36.8%
Condominium Sales: + 2.5%
New Construction: - 16.1%Previously Owned: + 6.7%
Condominium Percent of OLP Received: + 0.1%
New Construction: - 4.1%Previously Owned: + 1.5%
© 2009 Minneapolis Area Association of REALTORS®, Inc. | Sponsored by Royal Credit Union www.rcu.org 17
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