Hot off the Press: Richfield Market Update for Buyers and Sellers

Single Family Homes

April 2008

Richfield real estate market continues to slowly wake up this spring. April weather in our area was finicky. Temperatures below average, rain and even some snow (mostly in western and northwestern Minnesota, those areas received 6-12 inches!). Since weekends are usually the time when most people shop for homes, the weather halted that activity a couple of times.

As you see, there are many homes that have been on the market for months now. The total market time of currently active listings ranges from 3 days to whaping 482 days, and the average is 131 days on the market.

Again, home owners whose homes are currently on the market are seeing an increased showing activity. Our appointment center is noting a significantly higher appointment call volume.

Currently available for sale: 188 homes down from 200 last month change: -6%

Homes listed during the month: 66 homes up from 56, change: +18%

Pending transactions during the month: 50 homes up from 31, change: +61% !

Home sales closed this month: 29 homes up from 17, change: +71% !

Market Temperature

Four homes listed this month sold quickly:

1 sold in 9 days - list price $199,900

1 sold in 13 days - list price $209,900

2 sold in 17 days - list price $157,900 and $219,900

Aver. List Price Aver. Market Time Aver. Sq Ft

Transactions Pending: 53

List Price: $0 - $100,000 (1) $84,900 223 1,440

List Price: $100,000 - $200,000 (30) $169,370 130.8 1,470

List Price: $200,000 - $300,000 (22) $232,906 118.8 1,799

Homes Sold: 12

Sold Price: $100,000 - $200,000 (8) $168,288 129.8 1,384

Sold Price: $200,000 - $300,000 (2) $247,900 298.5 1,747

Sold Price: $300,000 - $400,000 (2) $344,450 305 2,640

If you are looking for market information for condos, duplexes, or multi-family residential investment properties, email your request to: Marzena@MarzenaMelby.com

Sellers: If you are planning on selling your home within the next six months, call me foe a complimentary market analysis. Hire the agent who has the right tools to find the right buyer for your property.

Buyers: Are you ready?! We offer a free consultation to help you determine the timing and the price range right for you and your situation. We are very knowledgeable about financing options, including special programs and first-time home buyers programs.

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Contact Marzena M. Melby, Broker/Partner, Counselor Realty, Inc., Licensed REALTOR® in the state of Minnesota at 612-267-6798 to list your property for sale or to purchase a property in the Twin Cities Greater Metro Area.

Visit my profile to find out more about my services. Call me today at 612-267-6798. If you prefer, contact me by email, by clicking on "email me" link of this page under my profile.

Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Counselor Realty, Inc. or its other partners or agents.