Michelle Bruch

Downtown housing market cooled considerably in 2006


The Minneapolis Area Association of Realtors (MAAR) reported that new listings for December 2006 were behind the prior year’s December listings by 58.7 percent.

The average sale price of $238,285 in December was 17.5 percent below the average sale price in December 2005.

“What few seem to be talking about is that a price pause is exactly what we need right now to improve affordability,” said Todd Shipman, 2006 president of the MAAR. “An accessible market is a healthy market.”


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