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Foreclosures and Short Sales in the Twin Cities Update
Foreclosures and short sales in the Twin Cities accounted for 34.1% of the closed transactions in quarter three according to a report published by the Minneapolis Association of Realtors.
Lenders are seemingly discounting properties at steep prices to get rid of them and thus dragging down prices even further.
The foreclosures and short sales are starting to move into the upper bracket section of the market as well. Now prime mortgages are starting to feel the affect. Foreclosures increased from 166 to units to 207 in the $500k-1mil price range, a 24.3% increase. For homes that are over a $1 million, foreclosures increased by 81.3%.
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Apple Valley REO & Foreclosure Update
Here is a market update for Apple Valley REO and Foreclosure listings.
Active Listings
- Currently there are 67 listings on the MLS in Apple Valley that are REO
- Of those 67 Listings, 36 are single family homes
- 2 condos in Apple Valley are REO
- 29 townhomes are REO
- Prices range from $64,900 to $499,900
Listings Sold
Four listings sold have sold in Apple Valley during the month of September that were REO. Two single family homes and two townhomes.
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