market action report mls area 381 lake minnetonk dec2009
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December 2009
Market Profile & Trends Overview LM L3M PYM LY Prior YTD Prior Year
Median List Price of all Current Listings
Average List Price of all Current Listings
December Median Sales Price
December Average Sales Price
Total Properties Currently for Sale (Inventory)
December Number of Properties Sold
December Average Days on Market (Solds)
Asking Price per Square Foot (based on New Listings)
December Sold Price per Square Foot
December Month's Supply of Inventory
December Sale Price vs List Price Ratio
Property Sales
Prices
Inventory & MSIThe Total Inventory of Properties available for sale as of
December was 495, down -20.7% from 624 last month
and down -15.5% from 586 in December of last year.
December 2009 Inventory was at its lowest level
compared with December of 2008 and 2007.
The Median Sales Price in December was $348,000,
down -13.0% from $399,900 in December of 2008
and down -8.4% from $380,000 last month. The
Average Sales Price in December was $614,307, up
27.5% from $481,887 in December of 2008 and up
17.4% from $523,414 last month. December 2009
ASP was at the highest level compared to December
of 2008 and 2007.
Trending versus*:
* LM=Last Month / L3M=Last 3 Months / PYM=Same Month Prior Year / LY=Last Year / YTD = Year-to-date
Number of Properties Sold
December Property sales were 41, up 32.3% from 31
in December of 2008 and -26.8% lower than the 56
sales last month. December 2009 sales were at their
highest level compared to December of 2008 and
2007. December YTD sales of 591 are running 7.7%
ahead of last year's year-to-date sales of 549.
$155
85.8%
$190$17115.2
Copyright © Coldwell Banker Burnet | Price Range: All | Property Types: Single Family Data is provided courtesy of Regional Multiple Listing Service of Minnesota Incorporated and may not reflect all relevant real estate activity. Coldwell Banker Burnet does not warrant or guarantee
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
Total Inventory & Month's Supply of Inventory (MSI)
A comparatively lower MSI is more beneficial for sellers
while a higher MSI is better for buyers. The December
2009 MSI of 12.1 months was at its lowest level compared
with December of 2008 and 2007.
12.1
Month YTD
101
$399,000$553,205
41
$176
112
Trending versus*:
591
MLS Area: 381 - Lake Minnetonka
Median Sales Price and Average Sales Price
MARKET ACTION REPORT
87.1%
$699,000$1,128,478
$348,000$614,307
495
25 2
9
39
56
64
82
62
61
47 49
59
31
28 3
4
44 5
0
63
72
63
60
44
29
23 2
9
42
38
54 6
0
70
60
44
74
56
40
31
41
0
10
20
30
40
50
60
70
80
90
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
200300400500600700800900
1,0001,1001,200
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
Median means Middle (the same # of properties sold above and below the Median)
MSI is the # of month's needed to sell all of the Inventory at the monthly Sales Pace
477
507 5
93 638 695
712
720
717
721
663
600
558 601 643 688 7
51
774
797
779
768
745
682
589
609 649 702 755 797
790
785
753
695
624
495
586
513
0
100
200
300
400
500
600
700
800
900
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
0
5
10
15
20
25
30
(000's)
3 Mo Avg
3 Mo Avg
David A. CohenRealtor
www.EquityDefender.com
612-819-4077
December 2009
Market Time
Selling Price per Square Foot
Selling Price vs Original Listing Price
Inventory / New Listings / Sales
Data is provided courtesy of Regional Multiple Listing Service of Minnesota Incorporated and may not reflect all relevant real estate activity. Coldwell Banker Burnet does not warrant or guarantee
the accuracy of this information. It is the responsibility of any buyer or seller to verify any and all information relevant to such consumer’s real estate transaction.
The Selling Price vs Original Listing Price reveals the
average amount that Sellers are agreeing to come down
from their original list price. The lower the ratio is
below 100% the more of a Buyer's market exists, a ratio
at or above 100% indicates more of a Seller's market.
The December 2009 Selling Price vs Original List Price
of 87.1% was down from 90.7% last month and up from
85.9% in December of last year.
Inventory / New Listings / Sales
This last view of the market combines monthly
inventory of Properties for sale along with New Listings
and Sales. The graph shows the basic annual
seasonality of the market as well as the relationship
between these items. The number of New Listings in
December 2009 was 51, down -47.4% from 97 last
month and down -23.9% from 67 in December of last
year.
Copyright © Coldwell Banker Burnet | Price Range: All | Property Types: Single Family
Selling Price versus Listing Price Ratio
The average Days On Market (DOM) shows how many
days the average Property is on the market before it
sells. An upward trend in DOM tends to indicate a move
towards more of a Buyer's market, a downward trend a
move towards more of a Seller's market. The DOM for
December was 112, up 20.4% from 93 days last month
and up 23.1% from 91 days in December of last year.
The December 2009 DOM was at a mid level compared
with December of 2008 and 2007.
MARKET ACTION REPORT
Days On Market for Sold Properties
The Selling Price per Square Foot is a great indicator for
the direction of Property values. Since Median Sales
Price and Average Sales price can be impacted by the
'mix' of high or low end Properties in the market, the
selling price per square foot is a more normalized
indicator on the direction of Property values. The
December 2009 Selling Price per Square Foot of $176
was up 5.2% from $168 last month and up 8.7% from
162 in December of last year.
Selling Price per Square Foot
MLS Area: 381 - Lake Minnetonka
117
91
112
50
70
90
110
130
150
170
190
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
Average Days on Market (Listing to Contract) for properties sold during the month
176162
190
100
150
200
250
300
350
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
Average Selling Price per Square Foot for properties that sold during the month
90.1%
85.9%87.1%
80%
82%
84%
86%
88%
90%
92%
94%
96%
98%
100%
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
Avg Selling Price divided by Avg Listing Price for sold properties during the month
477
507 5
93 638 695
712
720
717
721
663
600
558 601 643 688 751
774
797
779
768
745
682
589
609 649 702 755 797
790
785
753
695
624
4955
86
513
0
100
200
300
400
500
600
700
800
900
J
07
F M A M J J A S O N D J
08
F M A M J J A S O N D J
09
F M A M J J A S O N D
Inventory New Listings Sales
3 Mo Avg
3 Mo Avg
3 Mo Avg
David A. CohenRealtor
www.EquityDefender.com
612-819-4077
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