Edina -- Still #1 After All These Years!

Wow -- even in the dismal state of the market there are still brightspots! Did you know that average sales price in Edina went up 8% in 2008? Here are a few reasons the Edina brand is still strong:

(1) School District is renowned for its high caliber sports and academics

(2) Open enrollment is at its lowest point in years. We now allow about 15% of our student population to migrate in from outside of Ediina --- one of the lowest rates in decades. So, there has been more demand for in-district housing.

(3) In dark times, strong brands pick up market share. The Edina brand -- from our illustrious parks, school district, shopping, neighborhoods, and -- most importantly quality people -- is attracting a whole new generation of families looking for a strong sense of community and quality of life.

(4) Low foreclosure rates. I believe we had an 8% foreclosure rate -- one of the lowest in the 13 county metro. That pesky foreclosure inventory is sold at liquidation pricing and will drag down a city's average prices quickly. Thank goodness we missed out on that!

(5) Plenty of wealthy households. And the wealthy kept feeding on the economy and real estate until recently when the stock markets started to get hammered and they -- like the rest of Main Street -- watched their investments drop by 20-50%.

So -- Edina residents, keep your heads up, even in 2009 we are destined to outshine the market

To learn more about Edina real estate, visit EdinaMNHomes.Wordpress.com