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 Lake Vermilion Real Estate

A daily journal concerning Lake Vermilion and surrounding areas.
Selected real estate, notes, stories, musings, and anecdotes.

January 21, 2009

Big City Numbers.

A smallish, remote real estate market such as this one does not operate at an activity level to produce abundant amounts of market data.

So… if you like numbers and statistics about how a marketplace has been, is now, or will be positioned you need to look within a more populous area. The St. Paul Real Estate Blog has an eye on their local market and it reveals some interesting numbers. One the caught my attention was the statement that 39% of all 2008 home sales were bank mediated.

Wow!

That large number of foreclosures has a big impact on the average home selling price. The average home selling price was down more than 25% from the previous year.

The Minneapolis Area Association of Realtors supplies all the numbers, statistics, and charts for your inspection.

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