Brooklyn Park’s closed sales transactions have jumped 56% YTD through April compared to the same period in 2008.  These kinds of sales jumps are similar to what we’re seeing in California and Florida where home prices are down 40-50% but sales activity is up 50-70%.
Median home prices in Brooklyn Park have collapsed dropping 33.5% YTD vs. 2008.  Prices used to be $191,000 in 2008. Now they are $127,000 for the median price of a home in Brooklyn Park.
There are those who are waiting for the median to drop below $100,000. I don’t think they’ll see it.
Brooklyn Park has bottomed.