May 2008 Lakeville Real Estate Update

This update is for single family homes in the Lakeville School District (ISD #194) based on the Northstar MLS Matrix database on May 15, 2008.

The Lakeville real estate market has been fairly active. The Pending Listings below show that market time is dropping a bit. The average time these listing were on the market before getting a signed purchase agreement dropped from 77.5 days to 73.3 days since my last report in April. The cumulative days on the market also dropped from 153.8 to 145.4.

Lakeville Realtors are still advising that your home needs to be in top condition and ready to sell before it hits this tough market. Homes that are properly staged and prepared are getting activity and are selling!

The below Lakeville real estate statistics are for single family homes. For information on area townhomes, twin homes or condos just give me a call or send an email and I can provide those statistics for you. I can also provide the real estate numbers for any area or neighborhood you would like.

Averages for the 26 Single Family Home new listings for the week of 5/8/08 – 5/15/08

List Price: $439,138
Bedrooms/Bathrooms: 3.73/3.27
Year Built: 1993
Finished Square Feet: 2,972
Property Taxes: $4,154

Averages for the 415 currently active Single Family Homes

List Price: $488,138
Days on the Market/Cumulative Days on the Market: 90.1/182
Bedrooms/Bathrooms: 3.92/3.24
Year Built: 1985
Finished Square Feet: 3,075
Property Taxes: $3,826

Averages for the 47 Pending Listings that have Sold but not yet Closed

List Price: $373,025
Days on the Market/Cumulative Days on the Market: 73.3/145.4
Bedrooms/Bathrooms: 3.85/3.06
Year Built: 1991
Finished Square Feet: 2,865
Property Taxes: $3,490

Possibly related posts:

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

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