Market Monday~ Eden Prairie School District

Market Monday~ Eden Prairie School District~

The Real Estate Market in the Eden Prairie School District has appreciated quite a bit over the last few years! The median sales price at the start of 2020 was $360,000 and at the start of 2023 the median sales price is just shy of $460,000!

What will happen this year? Will the market continue to appreciate? Will it crash? That is the million dollar question that everyone is asking me. My answer is the same. I lost my broom stick and crystal ball a while ago (insert laughter here). BUT... the number crunchers and statisticians of Real Estate and the Economy are all stating the same message. They predict small gains this year (1-2%). They predict that the interest rates will come down as the year passes. With the month supply of homes still low (less than 2 months). Their predictions are probable! A Healthy market, equal to buyer and seller, is a 5-6 month supply of homes. We have quite a ways to go to get there. Eden Prairie currently has 1.3 months of homes for sale. 

We will continue to monitor and update you on the market conditions around the metro. Please reach out to me if you have specific questions on your market.