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7550 France Ave. S.
Edina, MN

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Rose Hart's OUTSIDE

Market Update

A few days ago the weather was mild enough to ride my bike on an errand downtown. My route took me past the new Vikings stadium construction, and the new condo construction, and more new condo construction.

It was a real life illustration of what the 2014 statistics have been saying, that there's a lot of new housing going up in the Twin Cities! The Minneapolis downtown condo boom is 60% of all new condo construction in the metro area. In November, new construction condo prices hit a new high of $366,242.

keyBugAltogether, the metro area has seen a 33 consecutive month increase in the year-over-year median housing sales price, which has increased to $205,000. Market analysts agree that our housing market continues on in a steady recovery.

In other good news, the October Bureau of Labor Statistics report declared that the Twin Cities had the nation's lowest rate of unemployment among the major metros, 3.2 percent; and the average mortgage interest rate remains around 4%.

The Twin Cities region, week ending December 6:

• New Listings decreased 4.4% to 849

• Pending Sales increased 5.7% to 815

• Inventory decreased 0.9% to 14,806

Contact Rose Hart at 612-250-0119 or Sally Bader- Hoaglund to view this listing.