Community Corner
Burnsville Real Estate Market Rallies in September
According to a report released in October, the city saw an increase in home prices in September — the first in months.
In September, Burnsville's real estate market had the strong showing: According to the most recent market update from the Minneapolis Area Association of Realtors, prices increased for the first time in recent memory.
Over July and August, inventory continued to decrease as the inflow of new listings slowed and closed sales increased. September of 2011 was no exception to the rule. Over that 30 day period, the local real estate market saw 30 percent decline in listings: This past September, 89 new listings came onto the market, 38 less than at the same time last year.
In keeping with recent trends, the area also experienced a marked increase in sales over September — 18.2 percent when compared to September 2010.
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Neither July nor August saw price gains, however. In this respect, September 2011 broke the mold, bringing price increases of almost 20 percent when compared to the same month in 2010 — with the median price increasing from $146,000 to $172,000.
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