Great news! All indicators are pointing to a sustained growth in the MN housing market! For 6 consecutive months, housing prices have risen and the time a home is on the market prior to selling has shrunk a bit. For instance, in July the average home was on the market for 92 days. In 2011 average time on market was 112 and in 2010 it was 104 days. In addition, the 7 County Metro Regions are boasting a 16.7% increase in median sales prices…that beats the statewide average of 11.1%. During the month of July, on average, homeowners were pleased to get 93% of their asking price. That is a step in the right direction!
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