WAYZATA.COM: July 2015

Friday, July 31, 2015

Open House Sun 8/2, 2-4pm *Move right in and enjoy this wonderful home (Waconia, MN) $236900 4bd 1902ft2

Open House Sun 8/2, 2-4pm *Move right in and enjoy this wonderful home (Waconia, MN) $236900 4bd 1902ft² http://ift.tt/1M26LLH

Wayzata Schools! 3-bed just $239,900!!! (Plymouth) $239900 3bd 1800ft2

Wayzata Schools! 3-bed just $239,900!!! (Plymouth) $239900 3bd 1800ft² http://ift.tt/1Ud5PVX

Private End Unit, Deck and Patio, Fireplace and Whirlpool 1182 (Aston Circle) $125000 2bd 1661ft2

Private End Unit, Deck and Patio, Fireplace and Whirlpool 1182 (Aston Circle) $125000 2bd 1661ft² http://ift.tt/1Df626T

NAR Names Arnold Worldwide Agency of Record

WASHINGTON (July 29, 2015) – The National Association of Realtors®, America's largest trade association, representing more than 1 million members involved in all aspects of the residential and commercial real estate industries, has appointed global creative agency Arnold Worldwide as agency of record, effective immediately. As AOR, Arnold will lead the association’s integrated marketing efforts including strategy, creative, digital and brand activation.

The competitive review, which began in April, included 18 agencies and was... Read More

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Mound: Great Opportunity To Own A Seahorse Condo (Mound) $79900 1bd 789ft2

Mound: Great Opportunity To Own A Seahorse Condo (Mound) $79900 1bd 789ft² http://ift.tt/1ItNSKs

Thursday, July 30, 2015

LOT FOR SALE,2 BLOCKS FROM LAKE MINNETONKA (3101 TUXEDO BLVD. MOUND, MN) $119000 19691ft2

LOT FOR SALE,2 BLOCKS FROM LAKE MINNETONKA (3101 TUXEDO BLVD. MOUND, MN) $119000 19691ft² http://ift.tt/1H0gawq

Parcels of land from double lot to large developmennt

Parcels of land from double lot to large developmennt http://ift.tt/1fMZSzI

Impeccable home with in-ground pool is waiting for you. (Minnetonka MN) $1289900 4bd 4942ft2

Impeccable home with in-ground pool is waiting for you. (Minnetonka MN) $1289900 4bd 4942ft² http://ift.tt/1Isebkc

Mound Condo That Is Move-In Ready! (Mound) $89900 1bd 789ft2

Mound Condo That Is Move-In Ready! (Mound) $89900 1bd 789ft² http://ift.tt/1MzfuVq

Wednesday, July 29, 2015

Excelsior, corner room for rent (Lake Mtka) $550

Excelsior, corner room for rent (Lake Mtka) $550 http://ift.tt/1IMcgNR

Direct Gain Passive Solar Home, Gazebo, Fenced Backyard (Eden Prairie) $399900 4bd 2968ft2

Direct Gain Passive Solar Home, Gazebo, Fenced Backyard (Eden Prairie) $399900 4bd 2968ft² http://ift.tt/1Ir8F1g

Maple Grove, MN Home for Sale! - Just Listed (8107 Orchid Lane N) $389900 4bd 2291ft2

Maple Grove, MN Home for Sale! - Just Listed (8107 Orchid Lane N) $389900 4bd 2291ft² http://ift.tt/1MVkgK1

Maple Grove, MN Home for Sale! (18857 88th Avenue N) $559900 3bd 3405ft2

Maple Grove, MN Home for Sale! (18857 88th Avenue N) $559900 3bd 3405ft² http://ift.tt/1ShOkGs

Where are the Highest Prices?

We are often asked “Which cities have the highest home prices?” Whether it’s a member, the media or the general public inquiring, it’s a fairly common question. Wonder no more! Below are tables showing the top 25 highest priced markets in the region. The top two tables rank all areas, regardless of market size. The bottom two tables only show areas with a certain volume of sales. The left table uses just June 2015 sales, while the table to the right uses 2015 YTD data. Of course, the measure used is median sales price.

Data to the people!

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Shorten the Timeframe Of Your Mortgage (refinance) $966 4bd 1492ft2

Shorten the Timeframe Of Your Mortgage (refinance) $966 4bd 1492ft² http://ift.tt/1Kzfl4a

Open House (Richfield) $239900 4bd 1809ft2

Open House (Richfield) $239900 4bd 1809ft² http://ift.tt/1LRM4jX

Lease ANY HOME that is for sale with a right to purchase (Metro Area (Top 50%Schools)) $2500 4bd

Lease ANY HOME that is for sale with a right to purchase (Metro Area (Top 50%Schools)) $2500 4bd http://ift.tt/1JvZJwT

$10K Price drop! Beautiful home! Wayzata Schools! Lrg lot! New Roof! (Plymouth) $259900 3bd 2304ft2

$10K Price drop! Beautiful home! Wayzata Schools! Lrg lot! New Roof! (Plymouth) $259900 3bd 2304ft² http://ift.tt/1Jw2Apt

Open House (Richfield) $239900 4bd 1809ft2

Open House (Richfield) $239900 4bd 1809ft² http://ift.tt/1LRM4jX

Pending Home Sales Dip in June

WASHINGTON (July 29, 2015) — After five consecutive months of increases, pending home sales slipped in June but remained near May's level, which was the highest in over nine years, according to the National Association of Realtors®. Modest gains in the Northeast and West were offset by larger declines in the Midwest and South.

The Pending Home Sales Index,* a forward-looking indicator based on contract signings, fell 1.8 percent to 110.3 in June but is still 8.2 percent above June 2014... Read More

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Lease ANY HOME that is for sale with a right to purchase (Metro Area (Top 50%Schools)) $2500 4bd

Lease ANY HOME that is for sale with a right to purchase (Metro Area (Top 50%Schools)) $2500 4bd http://ift.tt/1JvZJwT

Maple Grove, MN Home for Sale! - Just Listed (8557 Shadow Creek Drive) $429900 4bd 3907ft2

Maple Grove, MN Home for Sale! - Just Listed (8557 Shadow Creek Drive) $429900 4bd 3907ft² http://ift.tt/1DPqUwb

Maple Grove, MN Home for Sale! - Just Listed (16527 75th Avenue N) $694900 5bd 5209ft2

Maple Grove, MN Home for Sale! - Just Listed (16527 75th Avenue N) $694900 5bd 5209ft² http://ift.tt/1DPqVjF

BIG! & BEAUTIFUL! Don't Say Goodbye To This Good Buy! (Orono) $2400000 6bd

BIG! & BEAUTIFUL! Don't Say Goodbye To This Good Buy! (Orono) $2400000 6bd http://ift.tt/1Sh5UKD

http://ift.tt/1U6Exkb (Cottage Grove) $259900 4bd 2000ft2

http://ift.tt/1U6Exkb (Cottage Grove) $259900 4bd 2000ft² http://ift.tt/1LY74Ho

1 of 2 Exclusive Lots, Lake Minnetonka Views BUILD YOUR DREAM!!! (Excelsior, Shorewood, Minnetonka) $299000

1 of 2 Exclusive Lots, Lake Minnetonka Views BUILD YOUR DREAM!!! (Excelsior, Shorewood, Minnetonka) $299000 http://ift.tt/1Tq1Ftz

Lakeshore Living with Great Updates (Excelsior, MN) $339000 3bd 1800ft2

Lakeshore Living with Great Updates (Excelsior, MN) $339000 3bd 1800ft² http://ift.tt/1OATDdL

Tuesday, July 28, 2015

Millennials Favor Walkable Communities, Says New NAR Poll

WASHINGTON (July 28, 2015) – Millennials prefer walking over driving by a substantially wider margin than any other generation, according to a new poll conducted by the National Association of Realtors® and the Transportation Research and Education Center at Portland State University.

The 2015 National Community and Transportation Preference Survey found that millennials, those aged 18–34, prefer walking as a mode of transportation by 12 percentage points over driving. Millennials are also shown to... Read More

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Lake Minnetonka-159ft Lakeshore,1.5 acre lot-Secluded,VERY PRIVATE (Excelsior/Greenwood) $2300000 3bd 3300ft2

Lake Minnetonka-159ft Lakeshore,1.5 acre lot-Secluded,VERY PRIVATE (Excelsior/Greenwood) $2300000 3bd 3300ft² http://ift.tt/1U4AfJU

$1000 down $1690 per Month (Cottage Grove) $259900 4bd 2000ft2

$1000 down $1690 per Month (Cottage Grove) $259900 4bd 2000ft² http://ift.tt/1D9EJKV

WE PAY CASH FOR UNWANTED HOMES (ST PAUL) $1 8bd

WE PAY CASH FOR UNWANTED HOMES (ST PAUL) $1 8bd http://ift.tt/1I3rZFQ

NON-MLS home in Wayzata (Wayzata) $625000 3bd

NON-MLS home in Wayzata (Wayzata) $625000 3bd http://ift.tt/1OzdN8e

Non-MLS home in Wayzata (Wayzata) $995000 4bd 5000ft2

Non-MLS home in Wayzata (Wayzata) $995000 4bd 5000ft² http://ift.tt/1h38UcN

Wayzata School district bargain! (Plymouth) $299000 4bd 2500ft2

Wayzata School district bargain! (Plymouth) $299000 4bd 2500ft² http://ift.tt/1HYZHuZ

Wayzata villa condo (WAYZATA) $149000 750ft2

Wayzata villa condo (WAYZATA) $149000 750ft² http://ift.tt/1HYZHuT

MINNETONKA * Grays Bay Area * Groveland Elementary * (Minnetonka, MN) $279900 4bd 1455ft2

MINNETONKA * Grays Bay Area * Groveland Elementary * (Minnetonka, MN) $279900 4bd 1455ft² http://ift.tt/1ScdPsQ

Monday, July 27, 2015

Cut short Your Premiums (refinance) $1407 4bd 1862ft2

Cut short Your Premiums (refinance) $1407 4bd 1862ft² http://ift.tt/1IDzk13

Upper bracket new construction (Wayzata)

Upper bracket new construction (Wayzata) http://ift.tt/1MSHFM7

Excelsior, corner room for rent (Lake Mtka) $550

Excelsior, corner room for rent (Lake Mtka) $550 http://ift.tt/1InVUEA

POTW | City of Deephaven

Incorporated in 1900, Deephaven covers 2.3 square miles roughly 20 miles west of Minneapolis. Bordering Minnetonka, which borders Edina, which borders Minneapolis, Deephaven isn’t too terribly far out into the hinterland.

Most of the homes in the city are priced above the metropolitan median—by a factor of nearly three times. The Deephaven median sales price rose by 0.1 percent over the last 12 months to $615,500 while the Twin Cities regional median sales price rose by 7.6 percent to $215,000.

The chart above features custom, user-input price ranges highlighting days on market by price point. To enter the custom price ranges, simply click on the “Custom” text to the right of the price range variable label near the top left of the interface. Homes priced under $400,000 only spend a median of 20 days on the market before an offer is accepted. Homes priced between $700,000 and $1,000,000 spend 133 days on the market, between two and three times longer than the typical market time of $1M+ homes that tend to spend about 56 days on the market before going under contract.

A quick supply-demand analysis by price point shows how absorption rates slow as the price point moves higher. There are only 2.4 months supply of inventory for properties priced between about $330,000 and $575,000—which suggests a seller’s market. But there are 8.6 months supply of inventory for homes priced above $895,000—which indicates a buyer’s market.

Dollar volume may be an underutilized measure of market activity. Like any metric, it has its strengths and weaknesses. What dollar volume doesn’t tell you is the price of the typical sale or how many sales there were—important needs addressed by sales price metrics and unit sales metrics. What dollar volume excels at is measuring the amount of dollars changing hands.

There are infinite ways to reach $1,000,000 in dollar volume. It’s possible to have one single $1,000,000 sale, in which case, that one transaction made up 100.0 percent of that market’s dollar volume. Or it’s possible to have eight $125,000 sales. Or four $250,000 sales. You get the idea.

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