Monday, January 28th, 2013


The best real estate professionals leverage the power of data to deliver excellent value and real market understanding to customers. With the exceptional tools at their disposal, they can help buyers and sellers understand market trends and make important decisions. Real estate is “hot” again, even during the winter months, but nobody is predicting a rocket ship rise. It helps everybody if this market recovery incline is smooth and steady, like the gentle flow of a hot air balloon. Here are the numbers for this week.

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

  • New Listings decreased 1.6% to 1,077
  • Pending Sales increased 17.4% to 822
  • Inventory decreased 31.6% to 12,197

For the month of December:

  • Median Sales Price increased 15.9% to $168,000
  • Days on Market decreased 23.4% to 108
  • Percent of Original List Price Received increased 3.5% to 93.8%
  • Months Supply of Inventory decreased 40.0% to 3.0

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

Posted in Weekly Report |
Wednesday, January 23rd, 2013

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Andy Fazendin (2013 President, Minneapolis Area Association of REALTORS®) and Cari Linn (2012 President, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Wednesday, January 23rd, 2013


The first full week of 2013 market data looks a lot like most of 2012 did. But let’s go beyond the obvious. Consider this: Americans formed substantially more new households in 2012 than we built, which is partly responsible for the ongoing declines in active listings. Our population continues to expand from both natural reproduction and in-migration. But builders and lenders lacked the confidence and risk appetite to build in larger volumes. Unlike our sluggish jobs recovery, this imbalance actually stands to further fuel our fledgling housing recovery. If only all those new households could secure adequate employment, we’d be off to the races.

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

  • New Listings decreased 8.0% to 1,120
  • Pending Sales increased 4.3% to 722
  • Inventory decreased 31.7% to 12,123

For the month of December:

  • Median Sales Price increased 15.9% to $168,000
  • Days on Market decreased 23.4% to 108
  • Percent of Original List Price Received increased 3.5% to 93.8%
  • Months Supply of Inventory decreased 42.0% to 2.9

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

Posted in Weekly Report |
Monday, January 14th, 2013


With 2012 in the books, we’re starting to see some 2013 activity trickle in. Watch for continuations of last year’s trends: less inventory, strong buyer activity and firmer prices. It’s hard to believe spring is just around the corner, but would-be spring sellers are noticing the changes that have taken place. It’s a much less scary time to sell a home. Foreclosure activity will also be a key metric to watch. For the current cycle, here’s what the data shows.

In the Twin Cities region, for the week ending January 5:

  • New Listings decreased 34.6% to 832
  • Pending Sales increased 12.7% to 594
  • Inventory decreased 31.1% to 12,000

For the month of December:

  • Median Sales Price increased 16.2% to $168,452
  • Days on Market decreased 23.4% to 108
  • Percent of Original List Price Received increased 3.5% to 93.8%
  • Months Supply of Inventory decreased 42.0% to 2.9

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

Posted in Weekly Report |
Monday, January 14th, 2013

Decreased supply, strong demand and higher prices are among the encouraging developments in 2012 that make the case for continued recovery in 2013. Consumer purchase demand increased organically, absent any government incentives. As the active supply of homes for sale fell to 10-year lows, absorption rates improved to levels also not seen since 2003. Multi-decade low interest rates and record housing affordability resulted in a 16.9 percent increase in home sales for the 13-county metro.

2012 by the Numbers

• Sellers listed 65,914 new homes on the market, a modest 4.3 percent decrease from 2011 and a 10-year low.
• Buyers purchased 48,641 homes, up 16.9 percent from 2011 and the highest figure since 2006 (783 units shy).
• Inventory levels dropped 31.8 percent from 2011 to 11,875 units, the lowest level in 10 years.
• Months Supply of Inventory dropped 42.2 percent to 2.9 months.
• The Median Sales Price of closed sales was up, rising 11.9 percent to $167,900.
• Cumulative Days on Market was down 20.6 percent to 117 days, on average.
• Lender-mediated properties made up a smaller share of overall activity
• 34.6 percent of all New Listings were lender-mediated (either foreclosures or short sales), down from 41.9 percent in 2011 and 42.6 percent in 2010
• 37.3 percent of all Inventory was lender-mediated, down from 44.4 percent in 2011 and 47.4 percent in 2010
• 39.7 percent of all Closed Sales were lender-mediated, down from 50.0 percent in 2011 and 47.9 percent in 2010

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