Corcoran Minnesota is city located in the northwestern suburbs of Minneapolis. It is still mostly a rural setting with a few neighbors scattered throughout. It had been projected that Corcoran would see significant growth in housing units during this decade but with the market softening that got pushed back.
My note today is just to say that I was looking at inventory levels and noticed that there are only 17 homes for sale in Corcoran and there are 10 homes pending. That’s a remarkable ration of pendings vs. actives. Normally we can divide the pendings in to the actives to get the months supply. The base of supply is so small in Corcoran that I’m not comfortable saying that there is a 1.7 month supply of houses. Part of the reason I can’t do that is that Corcoran covers a very large geographic area and the homes for sale range from $100,000 to $1.5 million. There is not a lot of uniformity in the housing stock.
All that said, this is about as little supply as I’ve seen it in Corcoran. Typically there would be more than 30 properties for sale at this time.
Below is the link to the chart for the median home sales price for Corcoran, MN from 2005 through January 2012. Also, check out the Corcoran Home Search.
- Lawler: Declining Inventory of Existing Homes for Sale: Don’t Forget Conversion to Rentals (calculatedriskblog.com)
- January 2012 Pending Home Sales Highest Since 2005 (johnmurphyreports.com)
- Spring Meadows Plymouth, MN – Photos of Ongoing New Construction (northwestplymouth.com)
- County Road 116 and Hackamore Intersection to Get Traffic Lights – Medina and Corcoran (johnmurphyreports.com)