Anatomy of a Real Estate Sale Over One Million Dollars - Greater Minneapolis & Saint Paul Area Market Report

By
Real Estate Broker Owner with Wayzata Lakes Realty: Eric Kodner Sells Twin Cities Homes
http://actvra.in/yyx

 

Anatomy of a Real Estate Sale Over One Million Dollars

 

In the areas served by our area Multiple Listing Service, sales over a million dollars are relatively few, particularly when compared to markets like San Diego, Manhattan (NYC), Boston or San Francisco. 

Our closed sale on Madeline Island last week inspired me to do a search of recent sales in excess of $1 Million. That residential listing appeared on RMLS (NorthstarMLS) in Minnesota and Western Wisconsin.

Listings on RMLS generally include the greater Minneapolis and Saint Paul metropolitan area, but also include some listings in outstate Minnesota and in Western Wisconsin, across the border to the east.

 

Here are a few statistics on recently closed sales in the "upper brackets" from RMLS of Minnesota and Western Wisconsin:

 

  • Since January 1 of this year, twenty-six homes have sold in our MLS (and cooperating areas) for $1.4 Million or more.

 

  • There were twenty-two agents/companies involved in listing and marketing those twenty-six homes.

 

  • Our MLS has over 13,000 member real estate professionals.  Twenty-two listing agents who successfully closed a sale in this segment of the real estate market represents .00169 of all the real estate agents participating in RMLS.

 

In other words, about 1.7 per thousand agents in our MLS listed and marketed a home in the "$1.4M-plus" price range which actually sold during the first 107 days of 2012.

 

More area statistics for this price range:

 

Ninety-four unsold listings on NorthstarMLS which closed at over $1.4 Million either expired or were canceled since January 1 of this year.  Nearly four times as many homes at or above that price failed to sell during the listing period, compared to the number that sold.

Most of the closed sales reported to NorthstarMLS at that price or above were located in the Minneapolis and Saint Paul, Minnesota communities of Lake Minnetonka, Edina, Kenwood - Lowry Hill (Calhoun Isles Lake Harriet) and Medina.  Sales above one million dollars in those communities are relatively more commonplace than elsewhere in the Twin Cities metro area.

One of these reported upper-bracket sales was on Madeline Island.  That property was listed by our LaPointe, Wisconsin real estate brokerage, Madeline Island Realty.

 

By comparison, take a look at the real estate market in our MLS and compare it to the market in parts of southern California, like LaJolla or Laguna Beach.

For example, the average list price of a home in LaJolla is currently over seven times that in the Twin Cities area.  The average list price in Laguna Beach at this time is nearly twelve times the average list price in Minneapolis and Saint Paul.

 

 

 

 

 

 

 

 

 

 

 

Posted by

Contact Broker Eric Kodner with Wayzata Lakes Realty about Minneapolis & Saint Paul area properties, including Lake Minnetonka, Edina and the Minneapolis City Lakes area (Lake Calhoun, Lake of the Isles, Lake Harriet). We also sell on the Saint Croix River and on Lake Superior, including Bayfield, Wisconsin and Madeline Island homes.  With fourteen years experience marketing and selling waterfront properties in Minnesota and Wisconsin, we know Lake Minnetonka and Madeline Island real estate.

Wayzata Lakes Realty LLC (Minnesota) and Madeline Island Realty LLC (Wisconsin)

Real Estate Brokerage licensed in Minnesota & Wisconsin

Phone or Text Message 612.670.2539

EMKodner@Gmail.com  or

MadelineIsland@Gmail.com

Wayzata Lakes Realty

 

 

 

 

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Topic:
Real Estate Market Trends
Location:
Minnesota
Groups:
Luxury Property Marketing
Luxury Home Marketing
Minnesota's Nice :)
Minnesota Real Estate
Luxury Properties $750k+
Tags:
madeline island
calhoun isles
medina
lowry hill
kenwood
edina
lake minnetonka
northstarmls
rmls
wisconsin
minnesota

Comments 2 New Comment

Rainmaker
123,281
Jon Wade
Steamboat CO Real Estate
TheSteamboatGroup.com part of Colorado Group Realty, LLC

Nice Analysis Eric.  It's interesting how much of the public considers all Realtors to be the same yet there is definitely a select group that differentiate themselves in their knowledge, how they do business and in the results they get for their clients.

April 10, 2012 08:11 AM
Rainmaker
372,010
Eric Kodner
CRS, Madeline Island Realty, LaPointe, WI 54850 -
Madeline Island Realty

Jon, thank you!

What we do looks simple to the public (and to some in our own industry), but those of us who work the luxury market know what is required in order to successfully market and sell an exceptional property

April 17, 2012 05:08 AM
Rainmaker
329,008

Eric Kodner

Wayzata Lakes Realty: Twin Cities, Madeline Island
Ask me a question about Twin Cities real estate
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Additional Information

741 Main Street, LaPointe WI 54850


Overview
Maps
Photos
Features




















$739,000
Single Family Home
Main Features
5 Bedrooms
3 Bathrooms
1 Partial Bathroom
Interior: 2,736 sqft
Lot: 0.45 acre(s)
Location
741 Main Street
LaPointe, WI 54850
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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34970 Highlander Drive, Bayfield WI 54814


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Features




















$724,900
Single Family Home
Main Features
3 Bedrooms
3 Bathrooms
Interior: 2,640 sqft
Lot: 1.56 acre(s)
Location
34970 Highlander Drive
Bayfield, WI 54814
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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483 Mondamin Trail, LaPointe, WI 54850 - Madeline Island Estate Home


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$695,000
Single Family Home
Main Features
5 Bedrooms
3 Bathrooms
4 Partial Bathrooms
Interior: 7,728 sqft
Lot: 1.05 acre(s)
Location
483 Mondamin Trail
LaPointe, WI 54850
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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769 Islewood Road, LaPointe WI 54850 - For Sale by Madeline Island Realty


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Features




















$435,000
Single Family Home
Main Features
3 Bedrooms
1 Bathroom
1 Partial Bathroom
Interior: 1,554 sqft
Lot: 3.20 acre(s)
Location
769 Islewood Road
La Pointe, WI 54850
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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2234 Benjamin Blvd, LaPointe WI 54850


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$275,000
Single Family Home
Main Features
2 Bedrooms
1 Bathroom
Interior: 1,300 sqft
Lot: 20.00 acre(s)
Location
2234 Benjamin Boulevard
LaPointe, WI 54850
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Jackson Meadow Lots for Sale in Marine on St. Croix, MN 55047


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Jackson Meadow Lots for Sale - Stillwater MN Area Real Estate



















$95,900
Lots and Land
Main Features
Location
Jackson Meadow Subdivision
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 2267 Jackson Circle, Marine on St Croix MN 55047


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$159,900
Lots and Land
Main Features
Lot: 0.82 acre(s)
Location
2267 Jackson Circle
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 145 Kingfisher Ln, Marine on St Croix MN 55047


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$135,900
Lots and Land
Main Features
Lot: 0.45 acre(s)
Location
145 Kingfisher Lane
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 167 Kingfisher Ln, Marine on St Croix MN 55047


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$125,900
Lots and Land
Main Features
Lot: 0.03 acre(s)
Location
167 Kingfisher Lane
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Nearby properties for sale



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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 146 Kingfisher Ln, Marine on St Croix MN 55047


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Features




















$134,900
Lots and Land
Main Features
Lot: 0.26 acre(s)
Location
146 Kingfisher Lane
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 123 Kingfisher Ln, Marine on St Croix MN 55047


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$138,900
Lots and Land
Main Features
Lot: 0.41 acre(s)
Location
123 Kingfisher Lane
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Subscribe to our listing feed

Nearby properties for sale



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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 2365 Jackson Circle, Marine on St Croix, MN 55047


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Features




















$169,900
Lots and Land
Main Features
Lot: 0.57 acre(s)
Location
2365 Jackson Circle
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

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Subscribe to our listing feed

Nearby properties for sale



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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 2301 Jackson Circle, Marine on St Croix, MN 55047


Overview
Maps
Photos
Features




















$169,900
Lots and Land
Main Features
Lot: 1.23 acre(s)
Location
2301 Jackson Circle
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

Our recent listings
Subscribe to our listing feed

Nearby properties for sale



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Stillwater MN Area New Home Construction Lots in Jackson Meadow - 168 Kingfisher Ln, Marine on St Croix MN 55047


Overview
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Photos
Features




















$99,900
Lots and Land
Main Features
Lot: 0.31 acre(s)
Location
168 Kingfisher Lane
Marine on St Croix, MN 55047
USA

To get updates on open home dates and other property events, please click the "Like" button below:


Eric M Kodner

Eric M Kodner

Wayzata Lakes Realty and Madeline Island Realty
(612) 670-2539
emkodner@gmail.com
http://www.wayzatalakesrealty.com



Listed by: Madeline Island Realty & Wayzata Lakes Realty

Our recent listings
Subscribe to our listing feed

Nearby properties for sale



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