Category Archives: NEWS

Market Activity Report

For Week Ending May 12, 2018

Inventory and days on market both continue to skim along at historic lows, while buyer demand is creating competitive purchase offer situations that are increasing the number of homes sold for more than the asking price. This practice is nothing new in more popular areas, but higher offers are becoming normal outside of the hottest cities and neighborhoods. Affordability is a challenge for some potential buyers, yet prices still rise in an environment of economic confidence.

In the Twin Cities region, for the week ending May 21 (All comparisons are to 2017):

  • New Listings decreased at 2,073
  • Pending Sales decreased 5.5% to 1,466
  • Inventory decreased 23.9% to 9,446

For the month of April:

  • Median Sales Price increased 8.9% to $266,750
  • Days on Market decreased 10.2% to 53
  • Percent of Original List Price Received increased 0.7% to 99.8%%
  • Months Supply of Homes For Sale decreased 20.8% to 1.9
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Weekly Market Activity Report

For Week Ending April 28, 2018
As with last spring, the home-purchasing season will be competitive this year. Demand is still strong, especially in light of rising mortgage rates. Savvy consumers will want to get into a home before rates go up again. Amidst an environment of low inventory, buyers need to remain watchful of new listings and make their offers quickly

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In the Twin Cities region, for the week ending April 28 (All comparisons are to 2017):

  • New Listings decreased 7.2% to 1,761
  • Pending Sales decreased 9.5% to 1,389
  • Inventory decreased 23.5% to 9,051

For the month of March:

  • Median Sales Price increased 9.8% to $258,000
  • Days on Market decreased 21.9% to 57
  • Percent of Original List Price Received increased 1.1% to 99.1%
  • Months Supply of Homes For Sale decreased 22.7% to 1.7
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Weekly Market Activity Report

For Week Ending March 10, 2018

There is not much new to report this week compared to last week or the week before, but that is more good news than bad news at this juncture of the year. It’s true that more homes listed for sale would be welcome for a housing market ready for an influx of options. At the same time, there is ample evidence of buyers making the most of what is present on the market now. Contracts are being signed, and theprices being paid continue to prove demand.

In the Twin Cities region, for the week ending March 10 (All comparisons are to 2017):

  • New Listings decreased 20.3% to 1,419
  • Pending Sales decreased 9.5% to 1,069
  • Inventory decreased 21.7% to 8,006

For the month of February:

  • Median Sales Price increased 12.7% to $250,000
  • Days on Market decreased 15.9% to 69
  • Percent of Original List Price Received increased 1.6% to 98.0%
  • Months Supply of Homes For Sale decreased 21.1% to 1.5
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.

Weekly Market Activity Report

For Week Ending March 3, 2018

We are still not seeing a big surge in new listings or sales as we make our way into the springtime months. Housing activity around the country is generally lagging compared to last year at this time. Lower affordability due to higher mortgage rates and increasing prices could be the culprit for a slower start in 2018. It could also be that some locales have had unseasonably cold weather, holding some people back from listing or buying. Let’s look at how the local market is doing.

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

  • New Listings decreased 11.1% to 1,569
  • Pending Sales decreased 19.5% to 1,004
  • Inventory decreased 21.9% to 7,757

For the month of January:

  • Median Sales Price increased 9.7% to $244,000
  • Days on Market decreased 13.8% to 69
  • Percent of Original List Price Received increased 1.0% to 96.9%
  • Months Supply of Homes For Sale decreased 22.2% to 1.4
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.