Cobblestone Lake Apple Valley Minnesota

Over that last ten years the Cobblestone Lake Area of Apple Valley has averaged about 2 - 3 sales each month, which is why it's very important to look at data on a specific neighborhood with a 12 month moving average so we can figure out the trend for that specific neighborhood.

The Absorption Rate peaked at about 21 Months of Inventory over the Winter of 2007 - 2008. In December 2010 the Absorption Rate stood at 5.3 Months of Inventory and inventory increased by ten homes in the following month moving the Absorption Rate to 12.5 Months of Inventory.

(Big changes like this is a reason why I look at a twelve month moving average.)

Months of Inventory has been trending down since peak inventory levels during 2007 - 2008 and have fallen to about 6 - 7 Months of Inventory in 2010 and have remained at about that level ever since. Inventory levels did decline most of 2011 up to August and have gone back up sustaining a slight Buyer's Market in the Cobblestone Lake Neighborhood.

The Median Sale Price in Cobblestone Lake has been relatively flat during 2010 and most of 2011 and has just recently started to rise slightly. Prices in the Cobblestone Lake area have fallen about 44% since the Housing Market Peak of 2006 and have risen 10% from January 2011.

In this next chart we see sales data by price bracket. I would take this information with a grain of salt since the data available is pretty small group of homes. But it is worth reviewing to get an idea of what market conditions may be like for various price ranges.