Show All » 2008 » December
Wednesday, December 31, 2008Minneapolis Camden Real Estate Update
Camden is a tight-knit neighborhood of Minneapolis and today we're going to look at real estate trends there. Comparing November of 2007 to November of this year, there have been 11.5% more listings put onto the market, going from 96 to 107 this November. Closed sales are up 36.8%, from 38 to 52 closings. The average sales price in Camden decreased 31.5%, going from $107,783 to $73,819. These sellers received 93.4% of their original list price. Average days on the market until sale decreased 11.9%, from 148 to 131 days! For single family detached listings on the market, there was a decrease of 19.5%, with 363 listings on the MLS this November. There were 13 townhomes-condos on the market November of 2008, up from 11 in November of 2007.
Now we'll compare January through November of 2008 to January through November of 2007. New listings are down 1.7%, with 1,524 listings put onto the market this year. Closed sales increased 36.8%, going from 391 to 655 closed sales this year. The average sales price in Camden is down 41.8%, going from $135,212 in 2007 to $78,717 in 2008. Average days on the market increased 5.8%, with homes staying on the market 160 days on average in 2008. The percent of original list price received at the time of sale dropped 4% and is currently 85.9%.
The Camden neighborhood is looking pretty good for buyers. Closed sales have increased significantly this year over last year. The percent of original list price received on average is only 85.9% and the sales prices are down to an average of $78,717. If you’re in the market for a rehab or fixer-upper and not into North Minneapolis, this may be the place to invest!
