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Chaska Market Conditions Report
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Stimulating Boost
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Through July, new listings have stabilized year over year with 441 listings takes year to date compared to 440 in 2009. Closed sales are up a modest 0.6% to 160. However, the better news is that the average sale price has increased 4.8% to 226,497 and the percent of original list price received at sale has increased to 93% from last year's 91.7%. The average days on market has increased a bit from 136 to 141 days. Currently, there are 138 single family and 81 townhome/condos on the market.
The above figures are based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC thru 7/31/2010.
ZIP Code: 55318
Approximate Location Boundaries: Chaska is located aproximately 8 miles southwest of I-494 between MN Hwy 5 and MN Hwy 212. On it's northern border is the 1000 acre University of Minnesota Landscape Arboretum and the communities of Chanhassen to the north and east and Victoria to the north and west. The Minnesota River flanks it's southern border.
Location Characteristics: Chaska is a fast growing community in the popular south-west market. Named for a famous Native American Sioux chief from the 1800's, Chaska is now the county seat of Carver County. It is home to the Hazeltine National Golf Club, the site of the US Open in 2002 and the 2009 PGA as well as the Chaska Town Course, the top rated public golf course in Minnesota. It's down town has the charm of the turn of the century with the town square and is dotted with buidings built with the original yellow "Chaska" brick. The opening of the new Hwy 312 to Cty 41 in Chaska will now make commutes into Eden Prairie and I-494 a non-stop snap and is expected to help elevate demand for homes in Chaska. Chaska has a population of abut 23,700 with a median age of 32.4. The median household income is $84,692 and the median commute to work is 22.6 minutes. Chaska students score about 20% higher on standardized math tests and 25.6% higher on standardized reading tests than the Minnesota average. Chaska was named by Money Magazine as a best place to live in the US.
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