Minnetonka Home Values DROPPED in August!
Rachel Fredrickson
Minnetonka Home Values DROPPED in August!
August 2019 saw a decrease in the median sales price in Minnetonka! In a market where things have been constantly trending up, Minnetonka saw a decrease in their home values.
The number of new listings was down 10.7% from August 2018.
The number of closed sales was up 2% from August 2018.
Both the median sales price and the average sales price were down (2.7% and 7% respectively) from August 2018.
The price per square foot was down 4% from August 2018.
The % of Original List price was the same from August 2018.
The number of Days on that a home was on the market dropped 24% from August 2018.
The inventory of homes for sale was down 10% from August 2018.
The months supply of homes for sale was also down 18% from August 2018.
Although numbers from August to August seem pretty to have decreased. How did they compare year over year?
The new listings were actually up 8.8% :)
The number of closed sales was also up 5% :)
So August of 2018 was a GREAT year and this August just couldn't keep up.
When comparing Minnetonka to the other 16 county area, Minnetonka seems to follow the trends overall (with a few slight exceptions~ see chart below).
If you are thinking of selling in Minnetonka, I would love to help!
If you are thinking of moving to Minnetonka, I would also love to help.
