2018 in Review

Recently I have seen reports that the single family real estate market is showing signs of cooling off.

You wouldn’t know it if you looked at sales of all property types and all transactions.  All property types include detached houses and attached units like a twin-home, townhouse or condo.  All transactions include traditional sales and distressed sales like foreclosure and short sale. The chart shows an increase in median price from $246,000 to $265,000, an increase of 7.7%.

Does this mean that your house increased 7.7% from last year?  Probably not.

Lets say you own a single family detached house in Bloomington, and you know it is in the top price quartile, above $259,000.  This is how your market looks.

Prices have remained stable over the past 3 years.

Give me a call to talk about your particular situation.  Every market is different.

Scott Cullen 612 810 3491

 

 

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