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6. HRSR 08-03-2009
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6. HRSR 08-03-2009
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8/18/2009 12:00:32 PM
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7/31/2009 2:06:47 PM
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City Government
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HRSR
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8/3/2009
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FORECLOSURES AND SHORT SALES <br />I N TH E TWI N CITIES HOUSING MARKET <br />Area 756: <br />Elk River <br />Inventory of Homes for Sale <br />Months Supply of Inventory <br />MIMNEAFOUS PREA Assccla iron <br />~~ REALTORS" <br />Q2-2009 Update <br />Lender-Mediated Traditional <br />7-2008 7-2009 +/. 7-2008 7-2009 +/- <br />101 80 - 20.8% 237 142 - 40.1 <br />12.6 3.7 - 70.4% 14.3 15.7 + 9.9% <br />7-2007 thru 7-2008 thru +/- 7-2007 thru 7-2008 thru +/- <br />6-2008 6-2009 6-2008 6-2009 <br />New Listings 222 383 + 72.5% 661 373 - 43.8% <br />Closed Sales 82 228 + 178.0% 216 123 - 43.1% <br />What to Watch For Share of Inventory That is Lender-Mediated As of April <br />Elk River has a moderate share of lender-mediated properties-36.0 <br />percent of current homes for sale. Total Twin Cities inventory is 30.7 38.0% <br />percent lender-mediated. <br />29.9% <br />Over the last two quarters, the total number of lender-mediated homes for <br />sale in Elk River has fallen from 98 to 80-a dip of 18.4 percent. <br />Traditional inventory has increased from 137 to 142. <br />12.8% <br />In the last year, the months supply of lender-mediated inventory has <br />decreased from 12.6 months to 3.7 months due to increasing sales of <br />lender-mediated properties. <br />2007 2008 2009 <br />Inventory of Homes for Sale -•-Traditional <br />aoo -+-Lender-Mediated <br />350 <br />300 <br />250 <br />200 <br />150 <br />700 <br />50 <br />0 <br />Q2-08 Q3-06 <br />New Listings <br />-Traditional tLender-Mediated <br />~-Lender-Mediated 120 <br />350 <br /> ~ ~ <br />300 <br />250 80 <br />onn <br />60 <br />150 <br /> 40 <br />700 <br /> 20 <br />50 <br />0 0 <br /> Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1 Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q1- Q2- Q3- Q4- Q7- <br /> 06 08 06 07 07 07 07 08 08 DS 08 09 08 08 06 07 07 07 07 08 08 08 OS 09 <br />Q4-06 Q1-07 Q2-07 Q3-07 Q4-07 Q1-08 Q2-08 Q3-08 Q4-08 Q1-09 <br />Closed Sales -+-Traditional <br />©2009 Minneapolis Area Association of REALTORS®, Inc. ~ Sponsored by Royal Credit Union ~ www.rcu.org Page 1 of 2 <br />
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