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 - Email - Website

RELATED POST

4th Quarter Foreclosure & Short Sale Market Update