- Average Sales Price : YTD the average sales price is $150,087. In 2006, it was $166,767. That is a decrease of 10%!
- % of Original List Price Received : currently sellers are getting 92.3% of the list price, where in 2006, sellers were receiving 95.0% or more.
- Average Days on the Market : it is taking 140 days for a home to sell in the Camden area
- New Listings vs. Closed Listings : YTD there have been 746 homes listed for sale, up 7% from 2006. At the same time, only 147 have closed this year, which is down 21.4% from 2006!
As you can see, the market has cooled a little. Price and condition of the home has been the determining factors on getting a home sold. Since there are so many options available to buyers, the cream of the crop are being snatched up the fastest.
I will be posting updates every couple months as the new data is released so you can get a better view of how the market is progressing as the year goes on.
Look for my breakdown of the other 10 Minneapolis regions over the next week or so.