Local Market Update – March 2019

A RESEARCH TOOL PROVIDED BY MINNEAPOLIS AREA REALTORS®

- 10.1% - 3.4% - 4.7%

Change in Change in Change in

Lakeville New Listings Closed Sales Median Sales Price

March Rolling 12 Months

2018 2019 +/– 2018 2019 +/–
New Listings 179 161 -10.1% 1,831 1,781 -2.7%
Closed Sales 89 86 -3.4% 1,321 1,326 + 0.4%
Median Sales Price* $367,090 $350,000 -4.7% $331,000 $353,950 + 6.9%
Average Sales Price* $370,231 $357,262 -3.5% $348,228 $372,905 + 7.1%
Price Per Square Foot* $146 $150 + 2.4% $136 $145 + 6.2%
Percent of Original List Price Received* 99.1% 99.1% 0.0% 98.6% 99.0% + 0.4%
Days on Market Until Sale 59 62 + 5.1% 56 55 -1.8%
Inventory of Homes for Sale 288 257 -10.8% -- -- --
Months Supply of Inventory 2.6 2.4 -7.7% -- -- --
* Does not account for seller concessions. | Activity for one month can sometimes look extreme due to small sample size.

2018 2019 2018 2019

March Rolling 12 Months
179 1,831 1,781
161
1,321 1,326

89 86

-10.1% -3.4% -2.7% + 0.4%

New Listings Closed Sales New Listings Closed Sales

Change in Median Sales Price from Prior Year (6-Month Average)** 16-County Twin Cities Region b
Lakeville a
+ 30%

+ 20%

+ 10%

0%

- 10%

- 20%

- 30%
1-2008 1-2009 1-2010 1-2011 1-2012 1-2013 1-2014 1-2015 1-2016 1-2017 1-2018 1-2019

** Each dot represents the change in median sales price from the prior year using a 6-month weighted average.
This means that each of the 6 months used in a dot are proportioned according to their share of sales during that period.

Current as of April 8, 2019. All data from NorthstarMLS. | Powered by ShowingTime.