Many home buyers, home sellers and residential real estate professionals alike are interested in knowing how 2008 market is going to shape up. While the residential real estate market is only 23 days old here is what we know so far...

The statistics presented for the Northern suburbs of Minneapolis, include these areas. Coon Rapids, Fridley, Blaine, Andover, Anoka, Ramsey, East Bethal, Oak Grove, St Francis and Ham Lake.

In 2008, there have been 92 accepted contracts. There have been 15 closed transactions. Here are the list of active homes currently on the market. 0 to $150,000 264 active homes. $150,000 to $175,000 289 active homes. $175,000 to 200000 335 active homes. $200,000 to $250,000 440 active homes. $250,000 to $300,000 248 active homes. $300,000 to $400,000 264 active homes. $400,000 to $500,000 123 active homes on the market. $500,000 to $600,000 55 active homes. and finally $600,000 and above there are 73 active homes on the market.

As we progress through 2008, I will keep my readers apprised of the specific market conditions in the northern suburbs of Minneapolis Minnesota. As always, if you have an inquiry about your own holdings, just ask.

We are currently enjoying some of the best interest rates we have seen in years. Fixed rates came as low as 5% 30 year fixed today 1/23/08

 

By Jeff Firnstahl