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This information was provided by The Greater Lakes Association of REALTORS

Press Release

December 2010

Housing Market for November 2010

Over the last twelve months, the Median Sales Price of previously owned homes in the region has increased by 6.0 percent, while prices of newly constructed homes have increased by 1.2 percent. During the same period, the number of sales in these two segments decreased by 4.1 percent and 36.1 percent, respectively.

The price range with the strongest year-over-year change in sales was among private waterfront homes priced $275,001 to $400,000, up 17.3 percent. The weakest showing was among non-waterfront homes priced $150,001 to $200,000, where sales declined by 25.7 percent.

The inventory of non-waterfront homes has declined by 3.6 percent from a year ago to 1,746, while thenumber of available private waterfront homes has declined by 4.3 percent to 1,427 units during the same period. That amounts to 16.1 months of supply for non-waterfront homes and 28.6 months of supply for private waterfront homes.

Please feel free to contact me with any questions

Dan Pflugshaupt

REALTOR, GRI, e-PRO

218-839-7700

Dan@GalleryofHomesMN.com

Specializing in North Central Minnesota Lakeshore & Recreational Property