Foreclosures and Short Sales in the Twin Cities Real Estate Market
The Minneapolis Area Association of Realtors continues to do a phenomenal job of analyzing the trends in the distressed property market.  They have just compiled the latest report for the 3rd quarter 2008.  It is must reading.
What I thought was interesting was to see the percentage of overall inventory that was considered “lender-mediated” or bank owned (i.e. Distressed Sales). Here’s a snapshot by some cities and areas:
Hennepin Northwest (Medina falls in to this): 11.9%
Plymouth: 11.4%
Maple Grove/Osseo: 20.9%
Lake Minnetonka area (includes Orono): 10.8%
Minnetonka: 15.2%
Edina: 5.8%
St. Louis Park: 13.8%
Golden Valley: 15.8%
Hopkins: 28.3%
Eden Prairie: 15.7%
MPLS Camden: 63.0%
MPLS North: 69.0%
MPLS Powderhorn: 51.8%
Wright County (exc. Buffalo): 29.2%
