Category Archives: NEWS

Market Activity Report

For Week Ending September 22, 2018
Seven years ago, FICO conducted a survey of bankers that concluded that home prices would not recover until 2020. While roughly one million people are still considered underwater in terms of home value, many people would consider the housing industry to not only be fully recovered but flying forward toward unprecedented price points. While high prices may soon begin to turn buyers off, it will be interesting to see if there is a measurable slowdown in real estate activity versus a natural shift to balanced prices.

In the Twin Cities region, for the week ending September 22 (All comparisons are to 2017):

  • New Listings increased 6.1% to 1,555
  • Pending Sales decreased 3.0% to 1,156
  • Inventory decreased 5.3% to 12,632

For the month of August:

  • Median Sales Price increased 6.3% to $268,000
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.7% to 99.2%
  • Months Supply of Homes For Sale decreased 3.8% to 2.5
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Market Activity Report

For Week Ending August 25, 2018
In both academic and conversational circles, more people are beginning to discuss 2018 as the end of the freewheeling days of residential real estate – with its high prices and fast sales, site unseen. Such a portrayal of the last several years of the housing market are sensationalistic at best, patently false at worst. It is true that median sales prices have risen and total days on market have lessened. This prevailing market trend has occurred gradually, and so shall the next trend.

In the Twin Cities region, for the week ending August 24 (All comparisons are to 2017):

  • New Listings increased 12.5% to 1,686
  • Pending Sales decreased 7.6% to 1,179
  • Inventory decreased 9.0% to 12,378

For the month of July:

  • Median Sales Price increased 6.6% to $268,000
  • Days on Market decreased 17.4% to 38
  • Percent of Original List Price Received increased 0.7% to 99.8%
  • Months Supply of Homes For Sale decreased 7.4% to 2.5
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Market Activity Report

For Week Ending August 18, 2018
It has been another busy summer for residential real estate. The lower supply, higher prices, faster sales mantra has remained in place for most of the nation for the entirety of the year – which heightened in intensity during the summer sales season – but there has been some conversation about the possibility of more supply and lower prices. Presently, it is just conversation, as the numbers are not reflective of a shift in trend lines anytime soon.

In the Twin Cities region, for the week ending August 18 (All comparisons are to 2017):

  • New Listings increased 6.2% to 1,759
  • Pending Sales decreased 10.2% to 1,215
  • Inventory decreased 10.9% to 12,207

For the month of July:

  • Median Sales Price increased 6.6% to $268,000
  • Days on Market decreased 17.4% to 38
  • Percent of Original List Price Received increased 0.7% to 99.8%
  • Months Supply of Homes For Sale decreased 7.4% to 2.5
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Market Activity Report

For Week Ending July 14, 2018
National indicators do not necessarily predict the local economy, but the national
trends can be a reliable gauge for what is happening with local residential real
estate. Case in point, the U.S. Bureau of Labor Statistics recently reported that
unemployment is relatively unchanged since last month. Meanwhile, a national
statistics release about housing starts indicates that housing starts are lower
nationwide, even as consumer spending on home goods purchases and
renovations are up.

In the Twin Cities region, for the week ending July 14 (All comparisons are to 2017):

  • New Listings increased 11.4% to 2,209
  • Pending Sales decreased 2.7% to 1,417
  • Inventory decreased 14.4% to 11,384

For the month of June:

  • Median Sales Price increased 5.2% to $270,750
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.8% to 100.3%
  • Months Supply of Homes For Sale decreased 11.1% to 2.4
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Market Activity Report

For Week Ending June 9, 2018
The Federal Reserve recently increased the federal funds rate by 0.25 percent,
marking the second rate hike this year and seventh since late 2015. Two more 0.25
percent increases are expected by the end of the year. The 30-year mortgage rate
did not increase, yet Fed action can have an indirect effect on the housing market.
Buyers often react by trying to lock in at the current rate ahead of assumed future
higher rates. Educating consumers that the Fed rate and mortgage rates are not the
same can help curb panic buying.

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In the Twin Cities region, for the week ending June 9 (All comparisons are to 2017):

  • New Listings decreased 2.7% to 2,094
  • Pending Sales decreased 4.1% to 1,450
  • Inventory decreased 18.5% to 10,623

For the month of May:

  • Median Sales Price increased 8.4% to $271,000
  • Days on Market decreased 9.6% to 47
  • Percent of Original List Price Received increased 0.7% to 100.2%%
  • Months Supply of Homes For Sale decreased 12% to 2.2
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.