Category Archives: NEWS

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.

Weekly Market Activity Report

For Week Ending February 24, 2018

We are in a bit of a residential real estate holding pattern thus far in 2018. While some regions have witnessed a welcome increase in pending sales, declines in metrics such as closed sales, new listings and inventory in national year-over-year comparisons are more common, and it may take until late summer or early fall to see evidence of a predicted increase in inventory. In the mean time, buyer interest has remained strong despite the usual supply challenge.

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

  • New Listings decreased 8.0% to 1,262
  • Pending Sales decreased 8.6% to 968
  • Inventory decreased 22.8% to 7,618

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.

Weekly Market Activity Report

For Week Ending February 17, 2018

The trends from the last several weeks and, honestly, the last several months
remain in place in much of the country as well as locally. The market is trying to
sustain a healthy number of listings to keep pace with a consumer base that is
clearly in a buying mood. There is real evidence of increased showing activity and
anecdotal evidence from busy real estate professionals that we are setting up for
another busy year in residential real estate.

In the Twin Cities region, for the week ending February 17:

  • New Listings decreased 6.1% to 1,277
  • Pending Sales decreased 14.9% to 887
  • Inventory decreased 23.8% to 7,420

For the month of January:

  • Median Sales Price increased 9.4% to $243,500
  • 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.