Although the market has cooled after the tax credit expired, looking at numbers from May to June of 2010 for Burnsville looks promising.
New listings jumped from 94 in May to 139 in June. Year to Date Burnsville real estate experienced a total of 745 new listings hitting the market. That is a 2% drop over YTD for 2009.
Closed sales data was a bit more murky. From May to 2009 to May 2010, there was a 15% increase in closed sales. From June 2009 to June 2010 the number flip flopped to a 12% decrease in closed sales, sitting at 71 closings last month. YTD that leaves the overall closed sales figure up 7% with a total of 328 closed sales in Burnsville real estate.
One figure that was positive was the avereage sales price for homes in Burnsville. The current avereage sales price is $197,730. This is a 5% increase over 2009 average sales price.
Since the buyers side has slowed a bit, the length a home is on the market has stretched some. It went from 120 days in May to 133 days in June. Overall, this isn’t that big of a change from YTD in 2009 which was 138 days on the market.
These figures show that Burnsville’s real estate market is still strong, even with a decrease in buyer activity over the last month. I am anxious to find out the July data to see where the numbers will take us.
Either way, with the low interest rates on mortgages right now and the number of homes on the market, it is a great time to buy a home in Burnsville. If you are a first time home buyer, there are great programs available to help with down payment assistance and/or closing cost assistance. For more information on programs available in Dakota County, click here.
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Great article i hope to read more about this from you.