Twin Cities MN Housing Supply October 2010

Inventory is growing as home sales decline. All three property types and five of the eight price ranges that the board of Realtors track are showing year-over-year increases in homes for sale. The biggest area of growth is in the lowest price ranges, where an influx of new foreclosures and short sales and a decline in sales post-tax-credit has led to the growth.

Sales are declining in all price ranges except the high-end markets above $500,000, where sales have eked out small gains over the last 12 months.

Sale prices are lowest in the condo & townhome segment, where the Average Price Per Sq Ft has dropped by 13.5%in the last year.

If you would like to know what home sales are doing in a specific area let me know and we can e-mail you a detailed report.