We are constantly hearing all sorts of information on pricing, some true, some not so true. Truly, one day it's prices are still dropping. Another day someone tell us prices are not changing. We hear so much news and non-news about real estate lately that one of these days we will hear that prices are now covered in yellow polka-dots!
So, what is the market really up to? It greatly depends on your micro-area. The Twin Cities Metro area is a unique market since it comprises many different neighborhoods, municipalities which greatly vary. As a whole? Well, here are the facts based on MLS data provided by The Thing, created by the Minneapolis Area Association of REALTORS.
It shows a breakdown between single family homes and townhomes/condos. This is an important element to keep present. Looking at all the home types combined gives us completely different results.
Again, this is for the entire Twin Cities area. Your individual community could show something completely different. Like this particular area: Calhoun/Isles.
So, when you are hearing the "news" out there. Ask yourself is it really the case. What are the real facts? If you dig a bit deeper, you'll be surprised as to the truths out there!
