Home Selling in Minnetonka>Question Details

Dan Patch,  in Orange County, CA

What's the average time on market right now in Minnetonka 55345; and would a recently updated 3br, 2.5 bath on a private street with great yard

Asked by Dan Patch, Orange County, CA Sat Jun 4, 2011

go faster?

Help the community by answering this question:


And, I should have linked you to this website that will allow YOU to slice and dice the numbers what ever way you want in order to find the info you're looking for.

0 votes Thank Flag Link Mon Jun 6, 2011
Hi Dan,
Good answers below that show that averages may not mean much. Houses in very good shape that don't need any work and are priced at today's market are moving much faster. Homes newer than 10 years (or can compare favorably to these) are moving in 60 days. We target our listings to be on market no longer than 60 days. We help with appropriate staging or updating as needed. Whoever buys your home will want to be settled in before school starts.

Our Realtors will analyze your home compared to the market, tour comps with you, and prepare a Price Trend Analysis so we can really understand how the micro market in your area is behaving.
0 votes Thank Flag Link Mon Jun 6, 2011
Average days on Market in Minnetonka is 196. However, homes that are in a good location, staged and priced for market (at market value) are selling in weeks.
0 votes Thank Flag Link Sun Jun 5, 2011
This is the right answer. Do not look backwards at parameters like average market timie. There are always some customers in the market for your home, the key is to know what price they will pay for it. For that you need to find out how much they have offered and been rejected during their search, price your house at that price and you willl sell right away, price your house above that price and you would be priced out of the market! Lots of people do that due to sentimental reasons or hard financial ones (mortgage higher than value of the house) and it's called anchoring, it is a cognitive bias that our brains have. That slows down the market for now good reason. If you want to try to guess the future, the you need to guess if interest rates will go up or down, if your guess is up (as mine is), then prices will go down and buyers will be priced down in how much house they can afford, then sell as soon as you can and you will indeed be happy.
Flag Sun Aug 4, 2013
Looking for numbers? Love graphs? (yes, as a math major I do). Then check out the Minneapolis Area Association of Realtors (MAAR) "The 200+" monthly market updates.

We've included the link to last month's Minnetonka Market Update below. Average Days on Market? About 200.

Would a certain home go faster? If we're talking averages (mean, medians and modes), by definition the numbers for some homes may be outliers...some below average, some above average.

Bob Pacieznik
REMAX Results
0 votes Thank Flag Link Sun Jun 5, 2011
Oh, and I only researched the 3 bedroom, 3 bath homes to be specific to what you were comparing to.
0 votes Thank Flag Link Sat Jun 4, 2011
This is a tough question. The average since January 1 of days on market until sold in this zip code is 264 days. BUT, the least amount of days for a property to sell in this zip since Jan. 1 is 19, the longest time was 884 days!! So, you see the averages don't mean much. I'd say a median might be more informative. The market time in all of Minnetonka is about 200 days in April of 2011. That's up about 37% over last April of 2010. Market is still volatile and prices continue to ratchet down.

All good news for buyers, though.
0 votes Thank Flag Link Sat Jun 4, 2011
I don't know if you know but there is a virus when you click on your link. Exploit Black Hat or something like that.
Flag Sun Aug 4, 2013
There are 29 Pending sales in Minnetonka 55345 at this time. Pending means that they are sold but have not closed. The average market time is 76.9 days, but the average cumulative market time is 157.4 days. This is when the home has been off market and re-listed.

Recently updated homes always sell faster than average, provided that the price asked is not higher than average. Best answer will come from a Realtor who tours your home. I would be willing to do that along with others. Should be no problem getting three or four good opinions of value.

Data in whole or in part from the Multiple Listing Service of Minnesota

Chuck Heubach
West Realty
0 votes Thank Flag Link Sat Jun 4, 2011
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