Thursday, January 16th, 2014

 

WMAR

It’s the time of year when housing statistics take a back seat to the resolve associated with a fresh calendar year. Diligent tracking of new listings and pending sales counts tends to give way to weight loss plans and personal financial planning. And you know what? That’s just great! Spending some time focusing on self just may help make 2014 a banner year to match 2013. But if you want to take a quick glance, the data is here for your perusal. Here’s to another great year!

In the Twin Cities region, for the week ending January 4:

• New Listings decreased 18.7% to 678

• Pending Sales decreased 12.4% to 507 •

Inventory decreased 4.9% to 12,368For the month of December:

• Median Sales Price increased 13.7% to $191,000

• Days on Market decreased 20.4% to 86

• Percent of Original List Price Received increased 0.9% to 94.6%

• Months Supply of Inventory decreased 15.6% to 2.7

Click Here to View Full Weekly Activity Report

Posted in Weekly Market Activity Reports |
Monday, January 13th, 2014

by The KCM Crew

The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.

Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate.

Wednesday, January 8th, 2014

Inevitably, most housing markets tend to wind down at the end of each year.

There are gifts to purchase, holiday travels to plan and kids to care for during
winter break. This isn’t the case for all buyers and sellers, of course, but there are
enough who follow this traditional path to create a trend view that shows creatures
not stirring. Be prepared for at least two weeks of lessened activity before things
pick up again in January.

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

• New Listings decreased 14.5% to 307
• Pending Sales decreased 7.8% to 400
• Inventory decreased 9.1% to 12,707

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 10.8% to 3.3

Monday, January 6th, 2014

by KCM Crew

1.6 Blog VisualMany housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014. Here are the three categories of buyers we believe will create this strong demand.

The First Time Buyer

The Urban Land Institute recently released a report, Emerging Trends in Real Estate 2014, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, when they compare renting versus buying, many will choose homeownership.

The Move-Up Buyer

Over the last several years many homeowners were trapped in their home by negative equity. This prevented them from moving up to the home of their dreams. Zillow has just revealed that home equity increased by $1.9 trillion dollars in 2013 an increase of 7.9% in the last twelve months. With home values rising, this pent-up demand will finally be released and move-up properties will be in high demand.

Click Here For The Full Article

Tuesday, December 31st, 2013
Gains in construction activity and job growth have made the Fed confident that moderate bond tapering won’t rock the resilient real estate market. Holiday happenings have bolstered an already healthy economy. And though winter vacation jubilee may accentuate seasonally lazy home sales, most local markets should show cozy year-over-year comparisons.

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

• New Listings decreased 15.3% to 558

• Pending Sales decreased 11.0% to 689

• Inventory decreased 7.3% to 13,283

For the month of November:

• Median Sales Price increased 13.4% to $195,000

• Days on Market decreased 26.5% to 75

• Percent of Original List Price Received increased 1.3% to 95.4%

• Months Supply of Inventory decreased 11.1% to 3.2

 

User Registration

Forgot Password?
Back To Login

Enter E-mail: