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Within the Groveland Boundaries...

Last spring, I ran a search on the Multiple Listing Service to check inventory levels of single family homes under $560k within the boundaries of Groveland Elementary School.... There were 14 actively available at the end of May 2013.


I just ran that same search today, and there are currently 13 active single-family listings within the Groveland boundaries priced under $560k.... So, at a glance, inventory looks pretty much the same (STILL REALLY LOW).  But the interesting thing????   Of those 13 active listings, SIX of them were just listed in the last week. And there have been seven properties that have gone under contract in the district in the last two weeks---- all with an *average* market time of 9.2 days.
This is a swift moving current that homebuyers need to stay on top of.....Blink, and you'll probably miss it!


Here's something else to know---- the stats above are all based on MLS data.  What that doesn't show are all the transactions that are happening in the area *outside of MLS*.   I'm currently aware of five houses within the district that are being marketed offline (and that's just what I'm aware of---- I can't imagine how many more there are "out there").  Many of those are selling without even hitting the market.  All the more reason--- if you're a buyer--- to get an agent working for you to help you find your next house.  Especially one who's going to really hit the pavement for you to dig up some of these opportunities that may not ever become public knowledge.  By passively waiting for the right house to present itself by trolling Zillow, trulia, and open houses, you may lose out on the perfect place.  Right now, finding a house in some areas is a full time job----- coincidentally, it's *my* full time job!  :)  Let me help by putting my years of experience to work for you!

Groveland Elementary Property Values....

Fun fact for the day---- From April 2013 through April 2014, the median sales price for single family homes within the boundaries of Groveland Elementary School have increased 10.3% (and the previous year, it had increased 11.8%).  Holy cow---- that's some great appreciation!

LOW INVENTORY ALERT!!!

I've got a long list of buyers who want to move to ISD 276 (Minnetonka) , and a VERY short list of inventory.... If you know anyone who wants to move, here's what I need: -
--up to $650k within MME boundaries, ideally 5+ bedrooms....
---up to 450k within Groveland or Deephaven boundaries (Clear Spring could work, too), 3+bedrooms....
----up to $550k within Groveland boundaries....
Help!!!

Cold hard facts....

Yes, it still feels like winter, but the real estate market (especially in Minnetonka) has really been heating up.
Here are a few graphs to illustrate what I'm seeing out there:

First- let's look at the number of homes for sale over the last three years in one of my favorite areas, the boundaries of Groveland Elementary School ---

Next, let's look at days on market over the last three years in that same area:

And lastly, let's see how that lack of inventory and fast pace is affecting sales prices:

If you didn't think this was a good time to sell... take another look!!!

Closed Sales in Groveland Elementary are up for 2013!

Well, I'm fairly embarrassed.... I pride myself on accurate and clear data, and it looks like the advertisement that I took out in the Groveland Elementary Calendar had a misprint.  It stated that in December of 2012 there were 125 closed sales within the Groveland Elementary borders.... That number represented all of 2012 (not just the month of December).  I'm not sure how that misprint wasn't caught before publication--- I'm so sorry!
So, now for the facts---- last year (January 1, 2012-December 31, 2012) there were a total of 125 closed real estate sales within the Groveland Elementary School boundaries.  This year (so far) there have already been 135 sales, and we still have a month to go for the year...
Glad we got that cleared up!

Days on Market in Minnetonka continue to shrink!

Market times within the boundaries of Groveland Elementary School are continuing to head downward (that's good!).  In November of last year, houses were on the market an *average* of 94 days before selling (that data is for single family homes within the school boundaries, and doesn't include any foreclosure data).... Data for October 2013 shows that houses are now only on the market an average of 83 days. That's a great reduction! See the chart (linked below) to view all the market-time trends for the area.
Days on Market Until Sale for Groveland Elementary

It's also interesting to note that in November 2012, the average sales price within the Groveland boundaries was $417,301, and by October 2013 it had jumped up to $468,237. In addition, the months' supply of housing in November 2012 was at 4.7, and by October 2013 it had dropped to 2.9... So, with our shrinking inventory, prices are up!  That's a very good thing for sellers, who are still trying to gain back the equity losses they've suffered in the last few years.

I can pull this data for any area you'd like, so feel free to contact me if you're looking for any additional information. I'm always happy to help.