Homes Selling for More in Less Time

In Blog on August 24, 2012 by Community Expert Team
Homes Selling for More in Less Time

Homes in the Eden Prairie market are on the market for a shorter period of time, and are selling for more, according to recent numbers released by the Minneapolis Area Association of Realtors this month.

New sales in Eden Prairie are up 27.6% this month from July of last year, and sold for 3.7% more in that same time frame. What’s more, homes were only on the market for less than four months, as opposed to nearly five months in 2011. As the housing market continues to recover nationwide, Eden Prairie proves to be an exemplar of this trend. With families waiting for so long to list their homes during this economic recovery, it is a relief that the market has not only stabilized, but is building steam.

Some other numbers from the monthly report from the Minneapolis Area Association of Realtors: Sellers have received 94.9% of their asking price, up from 91.2% this same time last year. Number of new listings in 2012 is up 0.7% from 2011, and closed sales this year are up an astonishing 20.4% from this point last year.

Prospective buyers have been drawn to Eden Prairie because of its amenities – its numerous parks and trails, good public schools, and low taxes – not to mention its strong job market and low unemployment rate. Residents have long known Eden Prairie to be one of the best places in the nation to raise a family and build a life, and the monthly real estate numbers only serve to reinforce that.

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