Three Caveats — & One Big Outlier Prices in St. Louis Park’s “first alphabet” Fern Hill neighborhood have been appreciating smartly over the years. Which only makes sense: the high-demand neighborhood is just west of Cedar Lake; close to downtown Minneapolis and Uptown (but not too close); and has been enjoying a wave of major...Read More
Are “Traditional Sellers” Waiting For Fewer Foreclosures? Want a shorthand for knowing when the housing market has truly turned around? Watch what’s called “the median sale price” — statisticians’ term for the midpoint of a given group. So, the median price of 101 sold homes would be that price which is lower than 50 of...Read More
2010 Housing Market:More Toyotas (er, Chevy’s), fewer BMW’s Confused by the cacophony of statistics purporting to describe today’s housing market? The root of the problem is that the statistics are really capturing two things: 1) the change in housing prices; and 2) the changing mix of homes that are being sold. (The exception to the...Read More
Is the Media Right About the 2010 Housing Outlook? Before tackling how well the media understands the state of the housing market, a threshold question: Does the media’s take on the housing market matter? I think it does, because purchasing a home depends so much on one’s expectations about the future. When people are optimistic,...Read More
Edina’s ’08 Price Rise: Less Than Meets the Eye? Edina was the only community with more than 200 home sales last year that posted an increase in home sale prices. In 2008, the median sale price of Edina homes sold through the Regional Multiple Listing Service was $388,250, up 3 percent from 2007. Throughout the...Read More
