Eden Prairie Real Estate

Welcome to the 2010 Eden Prairie real estate market update from Micah Tweten, with EPMoves.com, where you can search for Eden Prairie luxury homes to Eden Prairie foreclosed homes and everything in between!

Visit the website and check out our recently added Foreclosure Search Tool and sign up for the hot track to foreclosures in Eden Prairie!  Also ask us about the “shadow inventory” if a foreclosure is what you’re looking for.

And as always--if you’re considering a move give us a call or shoot us an email, we look forward to hearing from you!

2nd Quarter Eden Prairie housing statistics and summary as of 8/3/2010:

Current "active" homes listed on the market in Eden Prairie : 528 (497 on 4/8/2010)   Avg. price: $397,316 Median price: $275,000 Price range: $71,000--1.8M Avg. Days on market: 165
There are currently 70 homes “pending” sale (91 on 4/8/10)   Avg Price: $386,325 Median price: $299,900 Price range: $89,900 - $1.79M Avg. Days on market: 152
For the 2nd Quarter 2010, there were 240 properties that Sold/Closed (Way up from 114 in the 1st Quarter of 2010)   Avg. Price: $321,947 Median Price: $257,000 Price range: $79.9 - 1.77M Avg. Days on Market: 123

Pictures show the most expensive homes in each category, and are provided from NorthstarMLS. If you would like to see more pictures, just let me know by sending an email to This e-mail address is being protected from spambots. You need JavaScript enabled to view it .

The data shows a large increase in closed sales; over double that of the 1st quarter. This is due largely in part to the Tax Credit given to buyers through the end of April. This is also the reason the Pending sales are a bit down from the 1st quarter results -- more people bought in Q1 to qualify for the tax credit. In a "traditional" market the pending sales would be greater in Q2 than Q1. What happened was most buyers rushed to the market to take advantage of the $8000 or $6500 tax credit if one qualified.

As a result, the market has slowed down a bit, which is somewhat concerning since we are in the typically busiest time of year. However with the combination of low prices, low interest rates, and time of year things are still moving nicely. In some instances, prices have come down so much that investors are starting to snatch them up for rentals or quick flips. This winter will be interesting.

At the end of the day, people will always be moving and Eden Prairie will remain a highly sought after city because of its great schools and countless other attractive offerings which can be found on this website. Below is a link to an article all Eden Prairie residents can be very proud of!

Eden Prairie ranked #1 best place to live by CNN/Money Magazine

Respectfully,

Micah Tweten, Broker

Direct:  952-927-2820

Cell:      612-616-2902

Fax:       952-927-1675

http://www.epmoves.com

Email:   This e-mail address is being protected from spambots. You need JavaScript enabled to view it

all information deemed reliable but not guaranteed