Minnetonka Real Estate Market Finishes the Year Strong
The median price of a home in Minnetonka rose 9.4 percent in 2012 over 2011, from $233,000 to $255,000.
Please, someone, plant a “For Sale” sign in front of your house! Realtors say 2012 has been, and 2013 will likely continue to be, the closest thing to a boom market the Twin Cities region has seen in almost a decade: Prices are up—in some cases, spectacularly—the average amount of time homes spend on the market is way down, and the number of foreclosures, which tend to depress prices overall, has fallen considerably. Now, all the market needs is more sellers. “We’re very encouraged by the recovery we saw in 2012,” said Andy Fazendin, president of the Minneapolis Area Association of Realtors (MAAR), at a recent news conference to announce the organization’s annual market-results survey. With the area’s economy recovering and interest rates …
