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UPDATE: Lakeville Real Estate Review

Robert Stewart with KELLER WILLIAMS Preferred Realty and TwinCitiesSouth.com reviews the state of the Lakeville, MN housing market.

Inventory is DOWN near 2006 levels!
 
The Single Family Market

 The are currently only 221 single family homes for sale, with the majority of homes in the $200,000 - $300,000 price point.  The median asking price of a home right now is $281,950.  The most active portion of the housing market seems to be single family homes under $200,000 - with 29 current active listings.  

The Townhouse Market 

There are 37 townhouse listings in Lakeville right now - a dramatic decrease from last year  when it seemed like everyone was dumping their townhouse to move up.   Most of these townhouses are priced under $200,000.  Townhouse sales pick up in the spring and late summer, when leases are usually ending.  

The Condo Market

There isn’t one.  Have a nice day.

Summary: Prices are creeping up.

My last sale here in Lakeville was this past week.  I had been in communication with the seller for about a year.  We initially discussed a list price of $265,000 for a 4 bedroom, 3 bath, 3 car garage home.  When it finally came time to list, there was no competition and some fairly strong recent sales.  We made the decision to raise the price $10,000 from our initial discussions - and we got it.  Yes, prices are creeping up.  

Based on that sale, I have 3 more similar listings coming up over the next few months.  Stay tuned!

 

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