St Cloud MN Area Real Estate Market Update - East St Cloud Housing Statistics 2007 vs 2008
This is a year over year comparison for single family homes in the East Saint Cloud Minnesota housing market. The date range for the last full calendar market year is January 1, 2006 thru January 1, 2007. This year is the housing market from January 1, 2007 through January 1, 2008. Please check back for market updates for the 2009 year.
- Total number of active listings last year 246, this year 213, percent of the change -13.
- New listings last year 190 this year 154, percent of the change -18.
- Number of homes under contract last year 77 this year 65 percent of change -15.
- Number of homes sold last year 80 this year 61 percent of change -23.
- The total sold volume for the East St Cloud area last year 12,670,204 this year 8,650,750 percent of change -31.
- Average sale price last year 158,378 this year 141,816 percent of change -10.
- Percent of list price to sold price, last year 98% this year 98%.
Areas with low changes in Average Sale Price (0-10%), and marked reduction in Listing Inventory,
are remarkably stable areas. Areas with greater change in Avg. Sale Price may be great places to buy!
For more information about the St Cloud area or to view homes currently for sale go to my website at
www.stcloudareahomesforsale.com The Listing Holdover Ratio (LHR) depicts the unsold listing inventory held over from the previous market year (New Listings/Total Listings). The LHR for year end 2007 was 23%, and for year end 2008 28%, indicating an increase of 5% for East St Cloud Minnesota. When sale outpace new listings, the LHR will go down, and the market will stabilize. Until then, the greater inventory, low prices & interest rates make a strong Buyers Market!
Steve Baklaich
RE/Max Realty Source
(320) 260-3290
