Each month, the Minneapolis Area Association of Realtors (MAAR) puts out statistics on the trends in real estate by community based on MLS areas. Based on the most recent MAAR report, there appears to be some positive changes taking place in Camden, the NW corner of North Minneapolis (NoMi), which is the zip code 55412 and part of 55430.
Check out the latest statistics from MAAR's Top 100 report for August, 2009. Camden is up from a median sale price of $60,001 in August, 2008 to $74,750 August, 2009, an increase of 24.6 percent! Also, single family detached housing inventory is down considerably, from 486 available in August, 2008 to 245 available in August, 2009 - a decrease of 49.6 percent from 1 year ago! The number of new listings in Camden is down from 159 in August, 2008 to 96 in August, 2009 - a decrease of 39.6%.
These are good signs for Camden. Prices are not what they may have been 5 years ago, with so many foreclosures on the market, but there is strong activity from first time buyers looking to make Camden home, positively impacting the median sales price.
Of the two buyers I've worked with most recently in Camden, both faced multiple offers, even though we submitted an offer on one listing within 8 hours of coming on the market! In both instances, we were able to design competitive offers and work through inspection concerns to secure the homes for my buyers.
For more information on what is going in your area, check out the MAAR Top 100 Report at: http://www.mplsrealtor.com/the100.aspx