July 2008 Lakeville Real Estate Statistical Update

This update is for single family homes in the Lakeville School District (ISD #194) based on the Northstar MLS Matrix database of July 19, 2008.

Pending listings have dropped have dropped 17% from last month – from 77 to 64. This would indicate that home condition and pricing continue to be of utmost importance when selling a house since there are many quality properties on the market for buyers to choose from.

The following Lakeville real estate statistics are for single family homes. If you would like information on area townhomes, twin homes or condos just give me a call or send an email. I can also provide personalized statistics for any neighborhood or geographical area.

Averages for the 26 Single Family Home new listings for 7/11/2008 – 7/19/2008

List Price: $331,103
Bedrooms/Bathrooms: 3.73/2.85
Year Built: 1987
Finished Square Feet: 2,591
Property Taxes: $3,521

Averages for the 415 currently Active Single Family Homes

List Price: $491,957
Days on the Market/Cumulative Days on the Market: 97.9/185.9
Bedrooms/Bathrooms: 3.92/3.26
Year Built: 1984
Finished Square Feet: 3,110
Property Taxes: $4,084

Averages for the 64 Pending Listings

List Price: $326,402
Days on the Market/Cumulative Days on the Market: 72.3/175.7
Bedrooms/Bathrooms: 3.81/3.03
Year Built: 1992
Finished Square Feet: 2,648
Property Taxes: $3,192

One new feature of the Northstar MLS Matrix database tracks the number of foreclosure/bank owned properties. The Lakeville school district currently is showing 26 active properties that are either in foreclosure or are short sales. Short sales are properties that the seller owes more on than they are worth. This new database feature is optional, so many existing properties that are short sales or foreclosures may not be entered into the database. The price range of these properties is currently $124,000 to $700,000. They can be incredible bargains but you need to be careful when attempting to purchase one because of many potential pitfalls. Give me a call or send me an email if you would like more information on these.

Possibly related posts:

1. August 2008 Lakeville Home Update!
2. May 2008 Lakeville Real Estate Update
3. June 2008 Lakeville Home Sales Update
4. January 2009 Lakeville Home Statistical Update!
5. April 2008 Lakeville Housing Update

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