For homebuyers the news is not bad. “Home values continued to decline in the fourth quarter of 2007, falling 3.5 percent from the third quarter and 3 percent year-over-year to a U.S. Zindex® home value indicator(1) of $224,890, according to Zillow’s Q4 2007 Home Value Report(2).”
Minnesota falls right into the average. House values have declined 3.5% from last year, with the average house being valued at $236,000.
They have an amazing site where you can see the trends in house values in communities around the Twin Cities (or anywhere in the US).
Submitted by exclusive buyer agent, Ron Jensrud