market action report county hennepin dec2009
TRANSCRIPT
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 4,133, down -18.3% from 5,058 last month
and down -26.6% from 5,627 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 $177,000,
up 4.1% from $170,000 in December of 2008 and
down -6.8% from $190,000 last month. The
Average Sales Price in December was $252,694, up
15.5% from $218,840 in December of 2008 and up
8.5% from $232,901 last month. December 2009
ASP was at a mid range 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 656, down -17.4%
from 794 in December of 2008 and -40.8% lower
than the 1,109 sales last month. December 2009
sales were at a mid level compared to December of
2008 and 2007. December YTD sales of 12,623 are
running 16.3% ahead of last year's year-to-date sales
of 10,858.
$94
91.1%
$119$111
5.9
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 6.3 months was at its lowest level compared
with December of 2008 and 2007.
6.3
Month YTD
66
$199,000$232,942
656
$112
71
Trending versus*:
12,623
County: Hennepin
Median Sales Price and Average Sales Price
MARKET ACTION REPORT
94.6%
$268,900$484,545$177,000$252,694
4,133
622
590
824 909 1
,126
1,2
43
1,1
39
1,0
90
772
770
705
493
533 6
95
918
1,0
44 1,2
35
1,2
14
1,1
98
1,0
77
935
722
616
613
869 1,0
22 1,1
95 1
,445
1,4
43
1,2
75
1,1
45
1,2
35
1,1
09
580
794
656
0
200
400
600
800
1,000
1,200
1,400
1,600
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
100
150
200
250
300
350
400
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
5,0
18
5,4
34
6,0
85
6,6
59
7,2
39
7,4
64
7,4
84
7,5
17
7,5
62
7,2
13
6,6
61
6,2
19
6,6
16
6,8
86
7,3
01
7,5
87
7,5
21
7,5
50
7,3
76
7,1
72
6,9
36
6,4
62
5,7
66
5,8
85
5,9
51
5,9
73
6,2
47
6,1
51
6,0
09
5,8
51
5,7
96
5,5
45
5,0
58
4,1
33
5,6
27
5,8
40
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
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
2
4
6
8
10
12
14
(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 94.6% was down from 95.5% last month and up from
89.9% 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 933, down -20.9% from 1,179 last
month and down -20.3% from 1,170 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 71, up 14.5% from 62 days last month
and up 1.4% from 70 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 $112
was down -2.6% from $115 last month and up 10.6%
from 102 in December of last year.
Selling Price per Square Foot
County: Hennepin
78
70 71
50
55
60
65
70
75
80
85
90
95
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
Average Days on Market (Listing to Contract) for properties sold during the month
112102
142
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 Selling Price per Square Foot for properties that sold during the month
91.1%
89.9%
94.6%
85%
87%
89%
91%
93%
95%
97%
99%
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
5,0
18
5,4
34
6,0
85
6,6
59
7,2
39
7,4
64
7,4
84
7,5
17
7,5
62
7,2
13
6,6
61
6,2
19
6,6
16
6,8
86
7,3
01
7,5
87
7,5
21
7,5
50
7,3
76
7,1
72
6,9
36
6,4
62
5,7
66
5,8
85
5,9
51
5,9
73
6,2
47
6,1
51
6,0
09
5,8
51
5,7
96
5,5
45
5,0
58
4,1
33
5,6
27
5,8
40
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
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