Hot off the Press: Richfield Market Update for Buyers and Sellers... by Twin Cities Homes for Sale

Single Family Homes

May 2008

Richfield real estate market seems to act a bit more like the weather. It goes, it goes down. No one knows why.

Temperatures again have been below average. However, there have been more weekend activity between scheduled showings and the open house attendance.

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 1 day to whaping 400 days, and the average is 77 days on the market.

Again, home owners whose homes are currently on the market are seeing an increased showing activity, and homes are selling a bit quicker. Overall, encouraging news!

Currently available for sale: 200 homes, up from 188 last month change: +6%

Homes listed during the month: 73 homes up from 66, change: +11%

Pending transactions during the month: 38 homes down from 50, change: -24% !

Home sales closed this month: 31 homes up from 29, change: +7% !

Market Temperature

Four homes listed this month sold quickly:

2 sold in 2-4 days - list price $175,000 and $309,900

3 sold in 10-16 days - list price $172,900, $214,000 and $217,900

3 sold in 21-28 days - list price $162,000, $240,000 and $345,000

1 sold in 3 days - list price $189,900, although this home was previously listed for 49 days. This closed was successfully closed on 5/28/08 - sale price $160,000

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

Transactions Pending: 54

List Price: $0 - $100,000 (1) $89,900 291 1,120

List Price: $100,000 - $200,000 (31) $169,626 134.8 1,454

List Price: $200,000 - $300,000 (20) $226,308 109.6 1,814

List Price: $300,000 - $400,000 (2) $327,450 11.5 2,541

Aver. Sold Price Aver. Market Time Aver. Sq Ft

Homes Sold: 31

Sold Price: $0 - $100,000 (1) $87,000 223 1,440

Sold Price: $100,000 - $200,000 (13) $167,900 107.5 1,576

Sold Price: $200,000 - $300,000 (17) $227,361 120.9 1,728

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.

Copyright © 2008 By Marzena M. Melby, All Rights Reserved