Average 2006-2008 Minneapolis-St. Paul Sale Price and Percent Foreclosures by MLS Area

Average housing prices in the Minneapolis-St. Paul metropolitan area dropped an average of 13.8% in 2008…but the market is local and there can be big differences from community to community even within the Twin Cities area. Prices are also greatly affected by the percentage of foreclosure properties in any given area and sale prices average higher for traditional homes compared to lender-mediated properties. The chart below gives three years of average sale prices to see the trend, and also includes the percent of foreclosures by MLS area in 2008. Click here for a five-year comparison.

2006-2008 AVERAGE SALES PRICE and PERCENT FORECLOSURES by MLS AREA

MLS AREA

AREA NAME

2006

2007

2008

% change from 2007

% Lender-Mediated 2008

Division III – includes Hennepin, Carver, McLeod, Sibley Counties (and some areas in Wright County)

Minneapolis City Neighborhoods

300

Calhoun-Isles

$402,590

$377,476

$371,327

-1.6%

13.5%

301

Camden

$162,024

$131,955

$75,929

-42.5%

66.2%

302

Central

$312,041

$319,548

$337,539

+5.6%

9.9%

303

Longfellow

$219,423

$222,017

$193,423

+12.9%

24.9%

304

Nokomis

$239,498

$236,460

$216,119

-8.6%

22.9%

305

North

$154,151

$102,359

$60,403

-41.0%

71.8%

306

Northeast

$214,526

$199,442

$165,998

-16.8%

30.2%

307

Phillips

$211,006

$167,278

$98,613

-41.0%

59.8%

308

Powderhorn

$182,697

$168,729

$124,365

-26.3%

48.9%

309

Southwest

$351,592

$366,684

$332,018

-9.5%

12.0%

310

University

$259,010

$257,249

$220,336

-14.3%

18.7%

Western, Northwestern and Southwestern Suburbs and other areas

340

Buffalo

$247,690

$223,694

$199,387

-10.9%

49.4%

341

Wright County

$240,842

$230,823

$198,463

-14.0%

37.6%

342

Hutchinson

$173,861

$174,986

$155,060

-11.4%

14.7%

343

McLeod

$171,820

$146,392

$135,757

-7.3%

26.0%

360

Robbinsdale

$204,958

$200,951

$161,643

-19.6%

39.0%

361

Crystal

$198,732

$194,488

$162,605

-16.4%

40.1%

362

New Hope

$218,317

$217,058

$183,196

-15.6%

32.8%

363

Brooklyn Center

$191,323

$173,258

$118,272

-31.7%

66.5%

364

Brooklyn Park

$253,466

$241,620

$190,531

-21.1%

53.3%

365

Maple Grove-Osseo

$308,723

$324,074

$316,224

-2.4%

19.4%

366

Champlin

$261,370

$240,964

$215,055

-10.8%

33.2%

367

Hennepin County N

$310,808

$299,334

$273,457

-8.6%

34.3%

368

Hennepin County NW

$520,271

$527,333

$455,912

13.5%

31.4%

370

Sibley County

$144,607

$145,261

$113,715

-21.7%

30.4%

373

Golden Valley

$328,409

$328,042

$312,842

-4.6%

13.7%

374

Plymouth

$324,175

$330,057

$319,910

-3.1%%

12.0%

378

Richfield

$224,389

$215,985

$185,253

-14.2%

25.0%

379

Bloomington East

$232,296

$231,295

$188,715

-11.5%

33.2%

380

Bloomington West

$272,810

$271,813

$251,555

-7.5%

18.0%

381

Lake Minnetonka N

$701,558

$636,291

$594,083

-6.6%

22.8%

385

Edina

$502,437

$490,257

$528,724

+7.8%

8.1%

386

Hopkins

$220,239

$207,558

$201,030

-3.1%

32.2%

387

Minnetonka

$342,035

$346,054

$319,855

-7.6%

14.7%

391

St. Louis Park

$251,665

$253,327

$247,163

-2.4%

14.0%

392

Eden Prairie

$365,798

$409,882

$350,902

-14.4%

15.7%

394

Carver County

$283,886

$257,831

$240,891

-6.6%

22.7%

396

Chanhassen

$367,267

$398,409

$378,839

-4.9%

13.9%

397

Chaska

$276,802

$277,141

$265,874

-4.1%

26.5%

398

Victoria

$269,349

$437,034

$425,123

-2.7%

9.9%

MLS AREA

AREA NAME

2006

2007

2008

% change from 2007

% Lender-Mediated 2008

Division II – includes Dakota & Scott Counties (and some areas in Goodhue, LeSueur & Rice Counties)

Southern Suburbs and other areas

600

West St. Paul

$210,400

$190,985

$165,561

-13.3%

39.8%

602

South St. Paul

$198,868

$190,396

$156,801

-17.6%

37.5%

604

Mendota-Lilydale- Mendota Heights

$373,855

$437,361

$329,596

-24.6%

12.4%

605

Sunfish Lake

$670,750

$1,114,667

$1,260,625

+13.1%

0.0%

608

Inver Grove Heights

$286,205

$264,766

$227,421

-14.1%

27.7%

610

Eagan

$261,240

$262,654

$241,266

-8.1%

30.0%

612

Burnsville

$245,242

$235,216

$211,080

-10.3%

36.5%

614

Apple Valley

$253,243

$242,487

$229,782

-5.2%

29.5%

616

Rosemount

$284,311

$277,271

$244,896

11.7%

23.0%

617

Hastings

$223,961

$226,204

$195,051

-13.8%

35.3%

618

East Dakota County

$280,492

$298,198

$277,610

-6.9%

20.0%

624

Farmington

$245,112

$235,421

$208,528

-11.4%

36.5%

626

Lakeville

$314,439

$302,113

$278,772

-7.7%

25.8%

628

South Dakota County

$284,607

$243,169

$276,817

+13.8%

30.8%

630

Northfield

$242,725

$237,606

$209,248

-11.9%

16.5%

632

Rice County

$205,569

$193,996

$163,445

-15.7%

27.4%

640

Shakopee

$258,217

$255,088

$230,856

-9.5%

38.2%

642

Prior Lake

$359,776

$344,542

$355,863

+3.3%

32.1%

644

Savage

$293,755

$281,343

$259,229

-7.9%

23.4%

646

Jordan

$282,775

$261,585

$233,099

-10.9%

39.3%

648

New Prague

$284,655

$260,489

$226,572

-13.0%

43.1%

650

Belle Plaine

$214,035

$215,763

$173,885

-19.4%

41.6%

658

LeSueur County

$182,358

$177,416

$168,694

-4.9%

21.4%

660

Goodhue County

$202,524

$185,595

$166,505

-10.3%

24.9%

MLS AREA

AREA NAME

2006

2007

2008

% change from 2007

% Lender-Mediated 2008

Division I – includes Anoka, Chisago, Ramsey, Washington Counties (and some areas in Isanti, Sherburne & Wisconsin)

Northeastern Suburbs and other areas

702

Falcon Heights-   Lauderdale- Roseville

$270,237

$251,684

$244,178

-3.0%

11.5%

705

Lino Lakes- Hugo-Centerville

$297,334

$284,846

$246,548

-13.4%

28.1%

706

North Central Suburban

$338,772

$329,216

$315,352

-4.2%

18.5%

707

Ham Lake

$351,350

$333,263

$290,535

-12.8%

45.8%

708

White Bear Area

$302,040

$306,635

$272,150

-11.2%

21.4%

709

Forest Lake Area

$279,186

$260,694

$231,304

-11.3%

35.4%

710

NE Anoka County

$304,578

$270,002

$212,567

-21.3%

42.0%

711

South Chisago County

$240,612

$225,893

$191,601

-15.2%

44.9%

712

Maplewood-    North St. Paul

$238,968

$225,748

$195,718

-13.3%

32.9%

713

Bethel

$263,982

$230,840

$195,411

-15.3%

52.9%

St. Paul City Neighborhoods

714

Phalen

$175,909

$155,401

$106,011

-31.8%

55.3%

716

Hillcrest-Hazel Pk- Dayton's Bluff

$176,277

$156,838

$103,028

-34.3%

60.7%

720

Southeast St. Paul

$217,221

$187,771

$174,431

-7.1%

43.6%

Eastern Suburbs and other areas

721

Lakeland-Afton- Denmark

$375,753

$365,375

$321,858

-11.9%

33.9%

722

Newport-St.Paul Park-Cottage Grove

$247,682

$234,174

$206,565

-11.8%

38.9%

725

Pine Springs-Lake Elmo-Oakdale

$259,843

$274,730

$251,518

-8.4%

33.0%

726

Woodbury

$314,279

$296,945

$290,793

-2.1%

22.5%

727

Stillwater-Bayport

$355,172

$359,827

$344,331

-4.3%

21.2%

St. Paul Central City Neighborhoods

728

Riverview-Cheroke

$194,125

$180,236

$125,897

-30.1%

56.5%

738

Homecroft-W 7th

$178,354

$177,927

$132,999

-25.3%

42.3%

740

Crocus Hill

$335,290

$365,263

$315,698

-13.6%

26.0%

741

Downtown-Capital Hts

$222,833

$217,481

$203,960

-6.2%

18.8%

742

Central

$151,477

$126,767

$75,702

-40.3%

70.0%

744

Como

$216,457

$225,905

$201,473

-10.8%

17.3%

746

St. Anthony-Midway

$222,771

$217,411

$182,367

-16.1%

26.7%

748

Town & County- Merriam Park

$303,259

$323,395

$260,170

-19.6%

19.4%

750

Mac-Groveland-   River Road

$318,755

$325,737

$294,912

-9.5%

7.8%

752

Highland Area

$317,965

$321,641

$282,697

-12.1%

12.7%

Northern Suburbs and other areas

754

Big Lake Township

$233,906

$208,385

$162,093

-22.2%

55.1%

756

Elk River

$248,760

$233,656

$200,409

-14.2%

47.5%

758

NW Anoka County

$259,607

$249,048

$219,181

-12.0%

57.7%

760

Ramsey

$249,358

$233,175

$207,749

-10.9%

38.8%

762

Andover

$301,044

$291,155

$240,367

-17.4%

41.0%

764

Blaine

$266,214

$264,207

$226,400

-14.3%

32.1%

765

Arden Hills-Shoreview

$284,750

$282,130

$271,458

-3.8%

16.0%

766

Mounds View-New Brighton-St. Anthony Village

$239,365

$245,542

$212,133

-13.6%

19.0%

767

Coon Rapids

$218,090

$199,230

$170,038

-14.7%

46.9%

768

Spring Park-Fridley

$218,337

$203,044

$171,363

-15.6%

34.9%

769

Anoka

$211,547

$195,153

$159,999

-18.0%

44.5%

770

Hilltop-Columbia Hts

$188,392

$184,039

$142,651

-22.5%

46.0%

771

Spring Lake Park

$210,524

$196,568

$161,071

-18.1%

40.3%

772

Lexington-Circle Pines

$207,301

$192,346

$181,982

-5.4%

35.4%

780

Sherburne County

$236,496

$221,355

$175,715

-20.6%

50.7%

782

Isanti County

$204,698

$197,034

$161,511

-18.0%

50.7%

783

Cambridge

$184,875

$174,080

$143,099

-17.8%

49.6%

784

North Chisago County

$202,794

$187,439

$154,005

-17.8%

36.2%

Click here for a five-year comparison. Click here for the 2008 Residential Real Estate Activity Report compiled by the Minneapolis Area Association of Realtors.


Sharlene Hensrud, RE/MAX Results – EmailWebsite

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