Chanhassen real estate
Chanhassen, MN Real Estate Monthly Market Update - July, 2008Chanhassen, Minnesota is not only known for its great dinner theater, but also for some wonderful neighborhoods and homes as well. Today let's take a look at some real estate numbers for this community here in the Twin Cities.
Examining July of 2007 compared to the month of July in 2008, new listings put on MLS were up 12.1%, with 74 properties being put onto the market. Closed sales were down from 47 to 35 closings this past July. The average sales price increased by 8.6%, from $399,859 to $434,351. Average days on market until sale dropped by 14.2%, going from 90 to 77 days. The overall inventory level for single family homes in Chanhassen increased from 133 to 164 listings. The townhome and condo inventory level saw a decrease of 8.1%, going from 111 to 102 listings.
Now when we take a look at January through July of 2007 compared to January of July in 2008, new listings are down 5.6%, with 518 properties going on the market this year. Closed sales are down 23.2%, with 182 properties closing here in 2008. The average sales price decreased slightly year to date, going from $390,811 to $383,886. The percent of original list price received at the time of sale dropped from 96.7% to 93.7%. Average days on market rose from 116 to 124 days.
In conclusion, these statistics are really encouraging for homeowners in Chanhassen. The month of July remained strong for the average sales price, even though closings "tapered off" a bit. With a decrease in new listings put on MLS however, the market is surely moving back in the right direction. Remember, if you are a homeowner needing to sell right now, inventory in Chanhassen is still at a high level, but homes are most assuredly selling. Price your property correctly, and ensure that condition is top notch.
