MLS listings in Bloomington MN

In today’s real estate update, The Minnesota Real Estate Team of REMAX Advantage Plus wanted to share a market snapshap update for the suburb of Bloomington, Minnesota.

First of all, comparing the month of September 2011 to September 2010, there was a 53% increase in the number of closed mls listings mn.  Average sales price of these homes for sale was $166,000, down 12% from September of 2010. Days on market increased 23% to 149 days. In September of 2011, there were only 421 properties for sale on the MLS. This is down 26% from September of 2010. No doubt, as you talk to various real estate buyers in our market, there is a shortage of inventory available for sale, especially at selected price points in Bloomington, MN.

Year to date date in Bloomington, there have been 636 closed sales, up from 635 sales in 2010. The average sales price of a property for sale in Bloomington is down from $202,000 in 2010 to $178,000 in 2011. This is a 12% year over year drop. The median sales price of a MLS listing in Bloomington dropped from $183,000 to $160,000.

Compared to other suburbs here in the Twin Cities, these numbers are showing remarkable similarities. Even though interest rates are presenting home buyers outstanding buying opportunities, there seems to be a shortage of listings for sale. Especially in East Bloomington. Right now, there are 5.5 months worth of supply for sale in East Bloomington, compared to 8.3 months worth for inventory for sale in 2011 September.

The Minnesota Real Estate Team with REMAX Advantage Plus has a number of top real estate agents who work and live in the Bloomington, MN area. Perhaps you are a first time home buyer, a real estate investor, a seller who is needing the advice of an expert short sale listing agent?

Regardless of your real estate situation here in Minnesota, please know that we are here to help you with all of your real estate needs.

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