Market Update: St. Francis, MN May 2012 (Prices are Stable for Split Entry Design Homes)

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Real Estate Appraiser with Michael S. Bolton,Inc.

The City of St. Francis, MN | Market Update

For every appraisal it's important to determine as to whether values are increasing, decreasing, or are remaining stable (click here for detailed article on how this is done). The MLS indicates that prices for the city of St. Francis, MN remained stable for the month of May, and have increased year to date. This is for all types of properties that have sold within the city of St. Francis, MN. This is not what is happening for split entry/level design homes over the past 12 months (see below) in the selected neighborhood area.

The data for this market update is based on the above search criteria over the past 12 months.


The homes that were selected for this trend line were all single family split entry/level design homes within the city of St. Francis, MN for the past 12 months; for the exact search criteria see the map above. This market analysis indicates that prices are considered to be stable as indicated by the chart above. Distressed sales (Bank REO's & Short Sales) are considered a major factor in the market, and they make-up approximately 80% of the sales. The decline in inventory levels (31%) will have a positive impact on values.

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Rainmaker
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Lisa Von Domek
....Experience Isn't Expensive.... It's Priceless!
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com

Hello Michael,

A shame that the distressed properties are still such a high percentage of sales for that market.  But as the inventory decreases, home prices will rebound.

June 26, 2012 02:38 PM
Rainmaker
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Roy Kelley
Retired Real Estate Broker, Maryland Blogger

Very good explanation.

Have an outstanding week.

June 26, 2012 06:02 PM
Rainer
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Carl Winters

Hello Michael: Stopped by to wish you a Happy Fourth of July.

July 03, 2012 06:14 PM
Rainmaker
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Susanna Haynie
Colorado Springs Realtor - CNE, MCNE, ePro - Cell:
Falcon Property Solutions, LLC

Hey Michael, haven't seen you on your blog in forever. You are probably totally swamped? I hope all is well with you.

God bless!Susanna

August 07, 2012 09:50 PM
Rainer
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Michael S. Bolton
MN Appraiser
Michael S. Bolton,Inc.

Hi Susanna,

Things have been unbelievably busy, which is a good thing.

Thanks for stopping by.

August 09, 2012 04:05 AM
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Michael S. Bolton

MN Appraiser
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