Minneapolis Has a Balanced Market Too? Well, I'll be a Monkey's Uncle

Before I get too far into this post I should point out the blog posts were I've mentioned which communities in the Twin Cities Housing Market have a Balanced Market.

• Plymouth
• Saint Paul
• List of Communities with Balanced Market
• List of Communities with a Seller's Market - Really? Yup.

In the chart to the right we can see how many months the City of Minneapolis has been in a Balanced Market. In March 2011 we saw the first indication of a possible turnaround for Minneapolis and as the year progressed things continued to improve with 2012 starting at 6.27 Months of Inventory.

In this next chart we see the 12 month moving average, which shows Minneapolis nearing a Seller's Market, which would be five months or less.

In the chart below we can see what direction the trend lines have been moving for Months of Inventory and the Median Sales Price for the City of Minneapolis.

In this last chart we can see how home prices have performed in each area of Minneapolis.

Homes Prices in the Southwest Area of Minneapolis, which happens to be one of the most desierable areas of Minneapolis, appreciated 13% since 2002 and fell 7% since 2006.

The worst performing areas since 2002 would be the Camden Area at 65% and the Near North Area at 63%. Since 2006 the Near North Area fell 74% while Camden fell 71%.

[gravityform id="3" name="Market Report Order Form"]

Homes for Sale in Minneapolis