Traditional Sales Going Up…Lender-Owned Sales Going Down

In 2009, lender-mediated sales accounted for 43.0% of all Minneapolis-St. Paul metro area home sales. The percent of foreclosures improved throughout the year, however, and January continued the trend. Traditional pending sales were 28.0% higher than last year while lender-owned pending sales were down 33.6% compared to 2009. In fact, this year's traditional pending sales reported by the Minneapolis Area Association of Realtors were almost the same as last year's lender-owned sales.

 Fss_2010-01-pending
Hopefully this is a sign that we are on a continuing path to market recovery. Also pointing in this direction is the fact that new lender-owned listings dropped 43.6% compared to last year, while new traditional listings showed an increase of 9.6%. Traditional sellers have been holding back the last few years. This may a sign of their return to the market.

Fss_2010-01-newlistings
Although all Twin Cities area markets have been affected by lender-mediated properties, all real estate is local and some areas have been hit harder than others. Below are the 10 least affected and 10 most affected Minneapolis-St. Paul MLS areas. Click here for a full list (click on it to expand the list if it shrinks).

2009 Lowest Percentage of Lender-Mediated Sales

  1. St. Paul: Mac/Groveland/River Road – 10.7%
  2. Edina – 12.1%
  3. St. Louis Park – 17.5%
  4. Minneapolis – Central – 17.7%
  5. Minneapolis – Southwest – 18.3%
  6. Victoria – 18.5%
  7. Mendota/Lilydale/Mendota Heights – 19.1%
  8. Minneapolis – Calhoun/Isles – 19.9%
  9. Falcon Heights/Lauderdale/Roseville – 20.6%
  10. Plymouth – 20.7%

2009 Highest Percentage of Lender-Mediated Sale

  1. Sunfish Lake – 100%
  2. Minneapolis – North – 77.5%
  3. Big Lake Township – 74.9%
  4. Isanti County – 70.3%
  5. Bethel – 69.6%
  6. Minneapolis – Phillips – 68.7%
  7. St. Paul – Central – 67.8%
  8. Brooklyn Center – 67.7%
  9. Elk River – 67.5%
  10. Northern Chisago County – 67.0%

Click here for a full list of 2009 percentages of lender-mediated closed sales. Click here for an interactive list of data for traditional and lender-mediated homes currently for sale by MLS area.

Sharlene Hensrud, RE/MAX Results - EmailMinneapolis – St. Paul Real Estate Market Information

RELATED POSTS

Written By

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

Related Posts

The Hidden Costs of NOT Staging Your Home

đź–¨ Print Article We offer a variety of staging services at A Home Revival and Rooms with Style: staging consults, occupied stages, and the most inclusive service — the vacant...

November 2018 real estate market update… inventory finally ahead of last year

đź–¨ Print Article After years of declining inventory, new listings have increased over the same month last year for the fifth month in a row and we finally have a...
1 Response

Subscribe to Our Newsletter for Market Updates & Mid-Century Modern Listings

Our weekly HomesMSP Update includes current local market information and a curated list of mid-century modern properties for sale, plus posts from an inspector, a lender, a stager, info about neighborhoods, life in the Twin Cities… even recipes!

Hidden

Blog Categories

Archives

Sharon and John Hensrud

About Us

The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.