Edina Realty Leads the Market for 10 Consecutive Years
The Firm Remains Strong in Both Lender-Mediated and Traditional Home Sales
January 20, 2010 09:03 AM Eastern Time
EDINA, Minn.--(EON: Enhanced Online News)--For the tenth year in a row, Edina Realty has led on key real estate measures – t
transactions and listings – throughout Minnesota, western Wisconsin and Fargo, N.D.
During 2009, Edina Realty handled more than 28,000 transactions (buy and sell side) and $5.8 billion in pending sales volume, or 2
region’s real estate market. Edina Realty took over 24,000 new listings, leading its closest competitor by over 7,500 units.
Of the total transactions handled by Edina Realty, 29 percent were lender-mediated, or homes that were lender-owned, short sales
Edina Realty leads the lender-mediated market with 15.9 percent market share. According to data from the Minneapolis Area Asso
REALTORS® (MAAR), lender-mediated transactions made up 43 percent of all transactions in 2009, compared to 31.4 percent
2008.
While there have been an unprecedented number of lender-mediated transactions, traditional home sales (non lender-mediated) still
majority of real estate deals in the marketplace. Edina Realty has been steadily increasing its share of the traditional home market, gr
percent from 24.2 percent in 2008. “Lender-mediated business is a big part of the market now, but it won’t be around forever,” sai
president and CEO of Edina Realty. “We have agents specializing in all areas of real estate, but traditional sales are still our bread a
Overall, pending home sales in 2009 were up by 18.4 percent over 2008 in the 13-county metro area, according to MAAR. That’s
number of units sold since 2005 and the strongest year-over-year increase in sales since 1998. Statewide, pending sales were down
percent according to the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC., but closed sales were up by 8
44,300 sales in 2009 compared to 40,700 in 2008. This includes data for Minnesota, western Wisconsin and eastern