Acoording to the Minneapolis Area Associaton of Realtors Eagan Mn had the following statistics.
April Year To Date
2007 2008 Change 2007 2008 Change
New Listings 186 145 -22% 634 542 -14.5%
Closed Sales 48 56 +16.7% 203 175 -13.8%
Average Sales Price $261,468 $221,650 -15.2% $267,347 $236,494 -11.5%
Average Days on Mkt 123 141 14.2% 90 150 66.3%
Single Family Inventory 220 208 -5.5% N/A N/A N/A
What this means:
With new listings decreasing by 22% and overall single family homes inventory down 5.5% for the month of April, the housing market in Eagan and the Twin Cities may be at its bottom. With summer coming inventory should continue to decrease, bringing a more stable housing market for the rest of 2008.
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