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Monday, August 18th, 2014

On a national level, home prices have dipped slightly. Instead of freaking out about this on 24-hour cable news channels, analysts are happy to see more sustainable trends settling into the U.S. housing market. With slower, healthier price growth, homeowners will have the opportunity to steadily build equity while buyers won’t be priced out of the market. Price normalization is not a negative trend, but rather a sign of stabilization and market athleticism.

In the Twin Cities region, for the week ending August 9:

  • New Listings increased 8.7% to 1,794
  • Pending Sales decreased 1.3% to 1,157
  • Inventory increased 9.6% to 18,494

For the month of July:

  • Median Sales Price increased 3.4% to $215,000
  • Days on Market decreased 5.6% to 68
  • Percent of Original List Price Received decreased 0.7% to 96.8%
  • Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

Posted in Weekly Report |
Monday, August 11th, 2014

The past two years of recovery have defied the initial expectations of many. Some portions of the market are starting to experience a bit of a slowdown, which may be due to seasonal unpredictability, lack of inventory, inability to obtain proper financing under tighter regulations or other factors. As long as good data is available for market analysis, the possibility of continued recovery and stability is present. The slow loris approach to hunting and gathering is not welcome on this journey toward residential real estate expertise.

In the Twin Cities region, for the week ending August 2:

  • New Listings increased 7.3% to 1,815
  • Pending Sales decreased 5.9% to 1,173
  • Inventory increased 9.3% to 18,447

For the month of July:

  • Median Sales Price increased 3.4% to $215,000
  • Days on Market decreased 5.6% to 68
  • Percent of Original List Price Received decreased 0.7% to 96.8%
  • Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

Posted in Weekly Report |
Tuesday, August 5th, 2014

Like a broken digital music player, analysts continue to skip to housing market stability. Although residential real estate activity may not have the same pep as last year’s summer hits, sales are still fancy enough to attract fresh sellers. New listings are up in certain submarkets, which is a needed thing for continued optimism. The highs and lows present a few short years ago are about as visible as a forgotten app, but those days are still just an errant thumb press away.

In the Twin Cities region, for the week ending July 26:

  • New Listings increased 4.0% to 1,784
  • Pending Sales decreased 7.1% to 1,147
  • Inventory increased 8.7% to 18,338

For the month of June:

  • Median Sales Price increased 4.5% to $219,500
  • Days on Market decreased 5.4% to 70
  • Percent of Original List Price Received decreased 0.3% to 97.2%
  • Months Supply of Inventory increased 13.2% to 4.3

All comparisons are to 2013

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

Posted in Weekly Report |
Tuesday, July 29th, 2014

By Aubray Erhardt on Monday, July 28th, 2014

Finding the truth behind housing statistics is like debating the best beer for summertime. On the beer side, you might pick an American wheat, Belgian white, shandy, Kolsch, cider or maybe a Coors Light if you’re into the pickup truck and dirt road scene. On the housing side, you might say we’re too heavy toward a seller’s market as prices rise, that another buyer’s market is over the horizon if inventory pushes up or that things are just right for the first time in years. No matter where your submarket sits on the scale, it’s safe to say that MLS data is the best base for a meaningful opinion and that a doppelbock is not a good base for an outdoor barbecue in the middle of July.

In the Twin Cities region, for the week ending July 19:

  • New Listings increased 10.4% to 1,913
  • Pending Sales decreased 1.0% to 1,145
  • Inventory increased 8.9% to 18,011

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 Blog.

Posted in Weekly Report |
Friday, July 25th, 2014

We are within one of the most affordable home-buying environments in history, but prices are up and rates may well go up, too. Rising prices provide empirical evidence of healthy demand. If inventory is able to replenish itself over the course of the next several months, sales could break up the sluggishness seen in some markets. There are those who believe that millennial buyers are being seduced away from homeownership by the agility of urban renting. That doesn’t appear to be the case. Housing is enjoying brisk activity, and people are talking positively about residential real estate again.

In the Twin Cities region, for the week ending July 12:

  • New Listings increased 8.7% to 2,091
  • Pending Sales decreased 8.4% to 1,231
  • Inventory increased 7.8% to 17,606

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.

Posted in Weekly Report |