Elk River home sales double in September
Click here to see a graph of area home sales.
September home sales doubled in Elk River compared to a year ago, a development one local real estate agent described as “pretty significant.”
There were 34 home sales in Elk River in September 2011, compared to 17 in September 2010, according to the Minneapolis Area Association of Realtors.
“It’s a pretty significant increase in activity,” said Realtor Lance Lindberg of Keller Williams in Elk River, who brought the figures to the attention of the Star News. He attributes the increase to low interest rates and low home prices.
Home loans are coming in at around 4 percent or less, he said.
The median sales price for homes in Elk River in September was $157,640; year to date that number is at $138,500, according to the Minneapolis Area Association of Realtors.
A number of other area communities are also seeing an increase in home sales.