Twin Cities housing market continues to firm up

The median sale price for a home in the Twin Cities during October was $169,000 - a decline of about 6 percent from the same month last year, and about even with the September median, according to numbers released this morning by local real estate groups.

[Mary]

The recovery has begun. We need to celebrate!!!

[It was a simple fix]

The next bubble is coming with the second wave house foreclosures, I wouldn't get all happy yet. And prices need to drop even more to be sustainable, the 8 K bribe was wasted.

[Dane]

Yeah on the backs of the foreclosed. That's really firming up well....Stop trying to spin that the housing market is back, it's not. People are buying because of the gov's $8k tax credit. They are buying up mostly the lowest priced houses. The rest of the market is still in shambles.

[Bob the Bilderberg]

I just did a Zillow search of my home and discovered that its market value has gone up 9% in the past 12 months.

It's within $7k of being back to where it was at its peak in July of 2006 during the height of the boom.

Location, location, location.

[picklesnorkie]

Have been noticing more and more SOLD signs on houses for sale in my area!! House down the street from me just sold too!! good news for us!! now we can put ours up for sale!!! So glad the market is seeing some movement..:))

[Banker Bill]

picklesnorkie wrote:

Have been noticing more and more SOLD signs on houses for sale in my area!! House down the street from me just sold too!! good news for us!! now we can put ours up for sale!!! So glad the market is seeing some movement..:))

Sounds like the neighborhood is changing with all that for sale activity. Sometimes these house-selling statistics can be misleading as it could just mean a real estate location is facing overall property value decline and people are trying to get out.