Golden Valley Home Sales on the Rise

Golden Valley July home sales rose nearly 120 percent over the same month last year, according to the Minneapolis Area Association of Realtors. That's well above a 33 percent increase in closed sales across the state.

"[The numbers] are an indicator that residential real estate is moving in the right direction after several dismal years," said Christopher Galler, CEO of the Minnesota Association of Realtors, in a news release.

The optimism comes in spite of July median sales price decreases—nearly 10 percent in the Twin Cities and 28 percent in Golden Valley.

That dip may be attributed to large numbers of foreclosed and lender mediated properties being sold, according to Galler.

"We have many more investors than the traditional marketplace," Galler said. "They're scooping up a lot of the good deals."

Around 40 percent of Twin Cities homes for sale are lender mediated. And while that may translate to more houses sold, it could also stall a large, positive market shift.

"The faster we can get lender-mediated properties off the market, the better," said MAAR President-Elect Cari Linn.

Still, she says current home sale statistics are promising. And the numbers for Golden Valley? "Fabulous," she said.

Weichert Realtors Advantage owner and broker Mark Laqua has no doubt that's due to the suburb's ideal location. "Proximity to downtown and other shopping areas has always made Golden Valley a desirable area," he said.

However, both Galler and Linn agree it may be awhile before the overall housing market sees a steady rise.

"I expect we'll have some rocky months ahead until the economy shows itself to be on stronger ground," Galler said.