Metropolitan Statistical Area (MSA):
Marshall, MN is a Metropolitan Statistical Area (MSA) comprising counties including Lyon County.
There is no doubt that the housing market in the Marshall, MN metropolitan statistical area (MSA) has been on a roller coaster ride over the past few years. After reaching an all-time high in 2006, home prices began to plummet in 2007 and 2008 as the subprime mortgage crisis unfolded. By 2009, prices had fallen by nearly 30% from their peak, and many homeowners found themselves "underwater" - owing more on their mortgages than their homes were worth.
The good news is that prices have begun to rebound in recent years, thanks in part to low interest rates and an improving economy. In fact, according to the latest data from the National Association of Realtors (NAR), the median price of existing homes in the Marshall MSA rose by nearly 5% between 2016 and 2017.
Looking ahead, it is difficult to predict where prices will go next. However, given the current trends of low interest rates and strong economic growth, it seems likely that prices will continue to rise in the coming years. This could be good news for both buyers and sellers in the Marshall MSA housing market.