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Eden Prairie Market Conditions Report
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Small Steps in the Right Direction
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While the monthly comparison to 2009 showed a 54.3% decline in closed sales year over year for the month of July, the year to date numbers looked considerably better due to stimulus inspired transactions earlier in the year. Year to date, there were 1050 new listings taken as of the end of July, a 3.3% decline. However, just 392 property sales closed year to date, a 2.2% decline. The average home sale price rose to $318,023 a 4.2% gain and the percent of original list price received at sale also improved 1.2% to 92.5%. The average days on market declined 12.3% to 135 days. There are currently 291 single family and 238 townhome/condo homes currently offered for sale in Eden Prairie.
The above figures are based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC thru 7/31/2010.
ZIP Codes: 55344, 55346, 55347
Approximate Location Boundaries: Minnetonka to the north, Chanhassen to the west, Shakopee across the Minnesota River to the south and Bloomington and Edina are on the east border.
Location Characteristics: Eden Prairie is one of the Twin Cities most sought after upscale suburbs with an excellent school system, great retail shopping, good parks, recreation and convenient access to employment centers and the international airport. The city is served by the Eden Prairie, Hopkins and Minnetonka school districts. It has a population of about 60,900 with a median age of 35.8. The median household income is $113,927. The median commute time is 19.4 minutes and Eden Prairie students score about 20% better than the state average on standardized math and reading tests. It has been ranked by Money Magazine as one of the nations best places to live.
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