Local Real Estate News
Monday, July 21st, 2014
Weekly Market Report

By Aubray Erhardt on Monday, July 14th, 2014

Pending sales are back and ready to rumble along with their trusty comrade, inventory. After a slower start to the year, the numbers are rallying for a comeback. However, one number not rising is the number of people filing for unemployment. According to the U.S. Department of Labor, jobless applications continued their downward trend. This could help families pad downpayment funds. With more inventory to choose from, there aren’t any cheap shots in this boxing match.

In the Twin Cities region, for the week ending July 5:

  • New Listings increased 14.8% to 1,269
  • Inventory increased 7.7% to 17,587
  • Inventory increased 7.0% to 17,583

For the month of June:

  • Median Sales Price increased 4.7% to $219,900
  • Days on Market decreased 6.8% to 69
  • Percent of Original List Price Received decreased 0.3% to 97.2%
  • Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Bookmark and Share

Orginal Story:Weekly Market Report

Comments Off
Monday, July 21st, 2014
Monthly Skinny: July 2014

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Cotty Lowry (2014 Treasurer, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Bookmark and Share

Orginal Story:Monthly Skinny: July 2014

Comments Off
Monday, July 7th, 2014
Weekly Market Report

Was the entirety of the U.S. fixated on footy while the Americans still had a shot? Maybe for 90 minutes here and there, but the distraction of quadrennial global sports entertainment is not enough to affect weekly sales activity in a country more in line with the Super Bowl than the World Cup. More accurate indicators of upcoming housing performance can be found in positive jobs activity that can spur real change in housing formation and reformation. With employers adding a seasonally adjusted 288,000 jobs last month and unemployment down to 6.1 percent, this summer has additional brightness to go with the high sun.

In the Twin Cities region, for the week ending June 28:

  • New Listings increased 5.9% to 1,844
  • Pending Sales decreased 8.5% to 1,244
  • Inventory increased 7.0% to 17,583

For the month of May:

  • Median Sales Price increased 8.2% to $210,000
  • Days on Market decreased 7.0% to 80
  • Percent of Original List Price Received decreased 0.2% to 96.8%
  • Months Supply of Inventory increased 11.1% to 4.0

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Bookmark and Share

Orginal Story:Weekly Market Report

Posted in Weekly Report | Comments Off
Monday, June 30th, 2014
Weekly Market Report

The season of backyard grilling, outdoor festivals and extended family vacations is upon us. Those who are already safely tucked in an owned home are not likely thinking much about the housing market, but those who are fixing to buy or sell are living it daily. Not enough inventory or not enough money offered for purchase? Too high a price or multiple offers on the table? The answers are ever evolving and dependent upon location and situation. A new quarter of activity is almost in the books, but year-over-year comparisons on monthly and weekly activity may be more beneficial for those living the housing life.

In the Twin Cities region, for the week ending June 21:

  • New Listings increased 6.3% to 1,910
  • Pending Sales increased 3.1% to 1,216
  • Inventory increased 7.5% to 17,365

For the month of May:

  • Median Sales Price increased 8.2% to $210,000
  • Days on Market decreased 7.0% to 80
  • Percent of Original List Price Received decreased 0.2% to 96.8%
  • Months Supply of Inventory increased 11.1% to 4.0

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Bookmark and Share

Orginal Story:Weekly Market Report

Posted in Weekly Report | Comments Off
Monday, June 23rd, 2014
Weekly Market Report

Some economists do not believe that housing has established enough upward momentum to warrant a declaration of recovery, yet many market analysts are observing the rule of The Tortoise and the Hare. Fast, energetic upward spikes in sales may be exciting, but slow and steady wins the race. This phase of stabilization will likely show itself in year-over-year comparisons that cause yawns, but this kind of race is ultimately good for the market as a whole.

In the Twin Cities region, for the week ending June 14:

  • New Listings increased 5.9% to 2,076
  • Pending Sales decreased 4.1% to 1,267
  • Inventory increased 6.5% to 16,857

For the month of May:

  • Median Sales Price increased 8.2% to $210,000
  • Days on Market decreased 7.0% to 80
  • Percent of Original List Price Received decreased 0.2% to 96.8%
  • Months Supply of Inventory increased 8.3% to 3.9

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Bookmark and Share

Orginal Story:Weekly Market Report

Posted in Weekly Report | Comments Off