Weather Cools but Richfield Housing is Still Hot

Housing sales don’t seem to be slowing down in Richfield. In fact, the market seem to be hotter than ever despite the cooler weather.

Last week, 14 homes changed hands, a number usually seen only during the busy spring and early summer housing season. Interest rates are at the lowest they’ve ever been, which is bringing buyers, especially first time buyers, into the Richfield market. While the housing market is currently in uncharted territory, many buyers are taking advantage of what could be a once in a lifetime opportunity to own their own home.

Could things get better for buyers? As a rule in investment and real estate, ‘you can’t time the market,’ applies. Experts can guess, but no one knows if prices or rates will get better.

My prediction; prices have stabilized in Richfield neighborhoods will begin to rise early 2013, if banks let homeowners in trouble refinance.

1) 6920 11th Ave S.

Listed by: Keller Williams Integrity

Single family home
Five bedrooms,  three baths

Lender owned

Days on Market: 32

Closed: October 21, 2011

Original List Price: $75,000

List Price at Time of Offer: $75,000

Sold Price: $75,000

2) 6636 Clinton Ave S.

Listed by: Brokers, Inc.

Single family home
Two bedrooms,  three baths

Days on Market: 19

Closed: October 21, 2011

Original List Price: $127,000

List Price at Time of Offer: $127,000

Sold Price: $127,000

Seller contribution: $3,810

3) 209 Pleasant Lane

Listed by: Realty Group

Single family home

Three bedrooms, one bath

Lender owned

Days on Market: 13

Closed: October 21, 2011

Original List Price: $129,900

List Price at Time of Offer: $129,900

Sold Price: $129,900

Seller contribution: $3,897

4) 7505 Emerson Ave S.

Listed by: Edina Realty

Single family home

Three bedrooms, one bath

Short sale

Days on Market: 55

Closed: October 21, 2011

Original List Price: $149,999

List Price at Time of Offer: $140,000

Sold Price: $140,000

Seller contribution: $4,200

5) 7400 2nd Ave S.

Listed by: Edina Realty

Single family home
Three bedrooms, one bath

Short sale

Days on Market: 98

Closed: October 20, 2011

Original List Price: $179,900

List Price at Time of Offer: $145,000

Sold Price: $149,500

Seller contribution: $4,500

6) 7608 Thomas Ave S.

Listed by: Edina Realty

Single family home
Three bedrooms, two baths

Days on Market: 24

Closed: October 21, 2011

Original List Price: $169,900

List Price at Time of Offer: $154,900

Sold Price: $158,500

Seller contribution: $6,000

7) 6500 Girard Ave S.

Listed by: Edina Realty

Single family home

Four bedrooms, two baths

Days on Market: 71

Closed: October 21, 2011

Original List Price: $173,900

List Price at Time of Offer: $157,900

Sold Price: $153,000

Seller contribution: $5,500

8) 6627 15th Ave S.

Listed by: Keller Williams Integrity

Single family home
Two bedrooms, two baths

Days on Market: 83

Closed: October 21, 2011

Original List Price: $169,000

List Price at Time of Offer: $159,900

Sold Price: $150,000

Seller contribution: $6,000

9) 7014 Oakland Ave S.

Listed by: The Realty House

Single family home
Two bedrooms, two baths

Days on Market: 301

Closed: October 24, 2011

Original List Price: $184,900

List Price at Time of Offer: $168,000

Sold Price: $161,000

Seller contribution: $7,000

10) 7028 Park Ave S.

Listed by: Coldwell Banker Burnet

Single family home
Three bedrooms, two baths

Days on Market: 11

Closed: October 24, 2011

Original List Price: $174,900

List Price at Time of Offer: $174,900

Sold Price: $172,000

Seller contribution: $4,965

11) 7139 Morgan Ave S.

Listed by: Coldwell Banker Burnet

Single family home
Three bedrooms, two baths

Days on Market: 24

Closed: October 21, 2011

Original List Price: $195,000

List Price at Time of Offer: $195,000

Sold Price: $190,000

Seller contribution: $5,500

12) 6736 Vincent Ave S.

Listed by: Edina Realty

Single family home
Three bedrooms, two baths

Days on Market: 10

Closed: October 21, 2011

Original List Price: $199,900

List Price at Time of Offer: $199,900

Sold Price: $195,000

13) 6401 Vincent Ave S.

Listed by: Edina Realty

Single family home
Three bedrooms, two baths

Days on Market: 50

Closed: October 20, 2011

Original List Price: $249,000

List Price at Time of Offer: $249,000

Sold Price: $228,000

14) 7233 Girard Ave S.

Listed by: Keller Williams Integrity

Single family home
Four bedrooms, two baths

Days on Market: 168

Closed: October 25, 2011

Original List Price: $269,000

List Price at Time of Offer: $249,000

Sold Price: $242,000

Seller contribution: $7,260