This is why sometimes you have to be suspicious of statistics. The City of Maple Grove, MN has been one of the growth stars in the Twin Cities. It’s in the northwest corner of the Twin Cities and has seen massive grown in housing, retail and commercial over the past 10 years. It’s hard to believe that their home prices are down by 15% year over year but that’s what the statistics say. Without going in to the specific detail underneath these numbers, my sense is the mix of home sales has just shifted to the lower end of the market and thus the data results are skewed.
That said, here’s the link to the pdf for the one page report for the month of August from the Minneapolis Area Association of Realtors.
(Click image to enlarge from the Minneapolis Area Association of Realtors):
- Plymouth, MN Median Home Prices Declined by Only 2.3% Year Over Year Through August 2011 (johnmurphyreports.com)
- Builders Association of the Twin Cities Hot Sheet – Plymouth, MN Leads Metro in Building Permits for June 2011 (johnmurphyreports.com)
- Twin Cities Real Estate Market Report – Week Ending August 20, 2011 (johnmurphyreports.com)