Burnsville real estate
Burnsville Real Estate Monthly Market Update - June, 2008Today we would like to focus on the community of Burnsville, and look at how the real estate market is in this great Minnesota community. First, let's look at the month of June in 2008 compared to the month of June in 2007. This past June, there were 151 new listings put onto the MLS, a drop of 13.7% compared to June of 2007. Closed sales also dropped 23.9% however, going from 71 to 54. The average sales price has remained fairly steady, moving from $240,669 to $237,884. Average days on market until sale has increased by 13.7%, going from 116 to 132 days. The single family inventory level in June of 2008 was 235, down from 255 active homes for sale in June of 2007.
Looking at January through June of 2007 to January through June of 2008, there has been a drop in new listings by 15% (going from 969 to 824 listings.) Closed sales have decreased significantly, going from 340 to 245 (27.9% drop.) The average sales price also dropped 7.1%, going from $238,492 to $221,591. The percent of original list price received at the time of sale dropped 4.8%, going from 96.6% to 92%. Average days on market has remained fairly steady, going from 142 to 143 days here in 2008.
Real estate in general remains very affordable in this great town. There are a number of outstanding homes, condos and townhomes for sale for buyers to choose from. As always, our team highly encourages buyers to work with a buyer's agent on each and every transaction. Find someone who will "go to bat for you" and who will have your best interests in mind.
