Monday, July 23rd, 2012

It’s been a relatively pleasant year for the business of residential real estate. Case in point, the June 2012 NAHB/Wells Fargo Housing Market Index (HMI) rose to its highest level since May 2007. And for the first time since 2005, housing is on track for being a net positive contributor to national GDP in 2012. Speaking on behalf of America, it’s about time. Throw in some real price gains, and you can expect holdout buyers to be less afraid of buying and sellers to be less afraid of listing.

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

  • New Listings increased 6.2% to 1,536
  • Pending Sales increased 13.4% to 1,125
  • Inventory decreased 30.7% to 17,188

For the month of June:

  • Median Sales Price increased 10.4% to $179,000
  • Days on Market decreased 21.9% to 113
  • Percent of Original List Price Received increased 4.1% to 95.1%
  • Months Supply of Inventory decreased 43.3% to 4.5

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, July 16th, 2012

With the second quarter now in the books, seasonal peaks and valleys should start to become apparent. Even if activity begins to slow for the remainder of 2012, gains are still likely when compared to the same time last year. Housing demand has been strong, supply levels have been falling and prices are turning a corner in many local markets. Keep a watchful eye toward market times, percent of list price received at sale and months of supply. Percent of new listings and closed sales that are in foreclosure or short sale status also serve as market indicators.

In the Twin Cities region, for the week ending July 7:

  • New Listings decreased 21.9% to 970
  • Pending Sales increased 24.6% to 892
  • Inventory decreased 30.8% to 17,134

For the month of June:

  • Median Sales Price increased 10.4% to $179,000
  • Days on Market decreased 22.0% to 113
  • Percent of Original List Price Received increased 4.0% to 95.1%
  • Months Supply of Inventory decreased 44.0% to 4.5

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, July 9th, 2012

Summer heat waves roll across the northland as election season also heats up. Meanwhile, as the mercury and partisan rhetoric both escalate, residential real estate continues to show signs consistent with market recovery. For the current round of numbers, both buyer and seller activity levels were higher than last year at this time. Buyers have been taking advantage of historic affordability levels for some time, but renewed seller confidence is a more recent development and some would even call it an encouraging omen, as long as supply levels don’t exceed a prior apex.

In the Twin Cities region, for the week ending June 30:

  • New Listings increased 0.1% to 1,414
  • Pending Sales increased 20.4% to 1,194
  • Inventory decreased 31.0% to 17,417

For the month of June:

  • Median Sales Price increased 10.4% to $179,000
  • Days on Market decreased 22.0% to 113
  • Percent of Original List Price Received increased 4.0% to 95.0%
  • Months Supply of Inventory decreased 44.7% to 4.4

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, July 2nd, 2012

Another week during the peak selling season has brought further evidence of a market in transition. New listings came in slower than last year but buyer activity has increased over year-ago levels. Buyers are confident in the current affordability picture, and some rents have increased to levels above comparable mortgage payments. Absorption rates, negotiating leverage and market times are all still metrics worth watching carefully. Some agents are reporting that more than half of their clients are in multiple offers. That’s nothing to throw dirt at.

In the Twin Cities region, for the week ending June 23:

  • New Listings decreased 1.6% to 1,395
  • Pending Sales increased 15.8% to 1,105
  • Inventory decreased 30.8% to 17,558

For the month of May:

  • Median Sales Price increased 10.5% to $169,000
  • Days on Market decreased 19.5% to 125
  • Percent of Original List Price Received increased 3.8% to 94.6%
  • Months Supply of Inventory decreased 43.4% to 4.6

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, July 2nd, 2012

 

Article by: SHIRLEY SALEMY MEYER , Associated Press

Digging up your home’s history takes diligence, detective work and knowing where to search.

Construction of Julian Sellers’ bungalow in St. Paul began in 1926 and was finished in early 1927. The builder was a Swedish immigrant. The family that first lived there included a married couple, their 6-year-old daughter and the wife’s mother.

Sellers learned all this by sorting through building permits, tax records, city directories, maps, old newspapers on microfilm and more. A retired software engineer and a member of the Twin Cities Bungalow Club, he has chronicled the history of the structure, its environs and the people who lived in it. He even met that 6-year-old daughter when she was in her late 80s.

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