Since history is often referred to as a predictor for the future the video below is a dive into market data for Eden Prairie real estate 2008-present all in ~3 minutes.
Key take-aways include:
- Eden Prairie a great place to live – #1 city in Money Magazine 2010
- Median sale prices down from 2008 value of $383K to 2009 median of $360K and then moving up in 2010 to a median of $375K – perhaps a positive sign for sellers
- Foreclosure and short sale prices below traditional sale values by 18% and 28% respectively in 2010
- Majority of homes, 46% listed above $475K – although some at all price points including below $209K
- Good time for buying up in Eden Prairie – many homes listed over $1mm, with a good number in the Bear Path community (map provided)
- Number of closings was down in 2010 vs. 2008 to 391 in total
- 219 current listings, 57 new since Dec 2010
Good luck with your buying, selling and everything in between!