Edina Real Estate Market Update

Posted by Kris Lindahl on Friday, February 20th, 2015 at 11:38am.

Edina MN Luxury Homes For Sale

January’s Edina real estate market statistics are hot off the presses and we’re looking pretty good, considering this is supposed to be the “slow” season.

More homes were listed in January 2015 than in January 2014 – 14.4 percent more too be exact. This is proof of seller confidence in the market and good news for buyers who’ve had slim pickings of late.

The number of closed sales decreased, however, more than 15 percent. This could just be a reflection of the winter doldrums in real estate – buyers preferring to stay in out of the cold over trudging through blizzards to look at homes for sale.

Good News for Edina Homeowners

Home prices are up more than 15 percent this year compared to last. Edina’s median sales price for a home is now $370,000. It was $321,000 in January of 2014.

Homes are selling faster now as well. In January of 2014, Edina homes for sale sat on the market an average of 110 days, this year the days on the market are at 93.

Luxury home sales remain the most active segment of the local housing market and should continue through spring, according to housing market experts. If you’re thinking of putting your luxury home in Edina up for sale this spring, start getting it ready now. Feel free to contact Team Lindahl for tips.

Edina homebuyers, don’t wait too long to jump into the market. Rates are still incredibly low and prices may continue to rise as we get into spring. I’d hate to see you get priced out of the market.

Have a great weekend!

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