Wednesday, January 18th, 2012

The first full week of 2012 shows that buyers were off to a busy start while seller activity cooled down. Sales volumes easily beat the same week in 2011. The inventory drops that many communities saw during the second half of last year should translate into further positive news for sellers. Interest rates are expected to hold the low ground, enriching the buying environment for consumers. It’s early now. The spring market will ultimately be the major tell as to the rate of recovery throughout the year. Today’s lesson: Maintain a long-term perspective and watch trends develop beyond one week of data.

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

  • New Listings decreased 14.6% to 1,266
  • Pending Sales increased 13.8% to 561
  • Inventory decreased 24.5% to 17,302

For the month of December:

  • Median Sales Price decreased 6.5% to $145,000
  • Days on Market decreased 2.5% to 140
  • Percent of Original List Price Received increased 1.7% to 90.6%
  • Months Supply of Inventory decreased 35.6% to 4.6

The attached Weekly Market Activity Report is produced by the Minneapolis Area Association of REALTORS® (MAAR) for REALTOR® members and interested parties on a weekly basis. Use it to further your understanding of the Twin Cities 13-county residential real estate marketplace.

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |
Wednesday, January 18th, 2012

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Posted in Uncategorized |
Monday, January 9th, 2012

Most observers would agree that this year’s housing recovery was not as robust as many had hoped. That said, a handful of things went right. Supply-side market correction took the guise of inventory declines and a pullback in listing activity. Consequently, sellers generally faced fewer challenges than in the past. Driven by improvements in the economy and record-low mortgage rates, purchase demand strengthened organically, independent of government incentives. Those sales gains dovetailed with falling inventories to move the market back toward balance. Nobody knows what 2012 will bring, but it’s a safe bet that these positive developments will continue to evolve.

In the Twin Cities region, for the week ending December 31:

  • New Listings decreased 11.6% to 593
  • Pending Sales increased 41.7% to 564
  • Inventory decreased 24.9% to 18,341

For the month of December:

  • Median Sales Price decreased 5.6% to $145,000
  • Days on Market decreased 2.4% to 140
  • Percent of Original List Price Received increased 1.8% to 90.6%
  • Months Supply of Inventory decreased 36.2% to 4.6

The attached Weekly Market Activity Report is produced by the Minneapolis Area Association of REALTORS® (MAAR) for REALTOR® members and interested parties on a weekly basis. Use it to further your understanding of the Twin Cities 13-county residential real estate marketplace.

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |
Thursday, January 5th, 2012

If you follow our weekly notes with even a sidelong glance, you know that the story of the market in 2011 has been increased sales and decreased inventory. That’s all well and good, but consumers and the media want to talk about one thing: Price. Ideally, sellers seek multiple offers. This signals strong demand and competitive bidding. Buyers want to know that purchasing a home is a financially sound investment. Consumers, whether buyer or seller, want to know when we’ll be establishing a stable real estate foundation again. Which is exactly why the tale of increased sales activity and healthy inventory absorption matters.

In the Twin Cities region, for the week ending December 24:

  • New Listings decreased 9.6% to 596
  • Pending Sales increased 48.4% to 607
  • Inventory decreased 24.4% to 18,666

For the month of November:

  • Median Sales Price decreased 10.2% to $149,000
  • Days on Market decreased 1.8% to 135
  • Percent of Original List Price Received increased 1.0% to 90.9%
  • Months Supply of Inventory decreased 29.8% to 5.7
  • Inventory decreased 24.4% to 18,666

The attached Weekly Market Activity Report is produced by the Minneapolis Area Association of REALTORS® (MAAR) for REALTOR® members and interested parties on a weekly basis. Use it to further your understanding of the Twin Cities 13-county residential real estate marketplace.

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |
Tuesday, December 13th, 2011

As another new year approaches, we find ourselves settling in for the holidays, which typically come with slowed real estate activity. In the first week of the full holiday shopping season, we saw sales increase. We’re talking about residential real estate, of course, although retail performed surprisingly well, too. Sellers listed fewer properties during the week, choosing instead to hunker down in their living rooms rich with the aromas of pine-scented candles and cinnamon cider sticks.

In the Twin Cities region, for the week ending December 3:

  • New Listings decreased 9.3% to 1,006
  • Pending Sales increased 36.4% to 885
  • Inventory decreased 22.9% to 20,031

For the month of November:

  • Median Sales Price decreased 9.9% to $149,500
  • Days on Market decreased 1.8% to 135
  • Percent of Original List Price Received increased 1.0% to 90.9%
  • Months Supply of Inventory decreased 30.5% to 5.7

The attached Weekly Market Activity Report is produced by the Minneapolis Area Association of REALTORS® (MAAR) for REALTOR® members and interested parties on a weekly basis. Use it to further your understanding of the Twin Cities 13-county residential real estate marketplace.

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |

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