Monday, January 7th, 2013


The results are mostly in, and the evidence is overwhelming. Housing not only outperformed most other sectors of the economy, but for the first time in half a decade, there was meaningful market recovery in 2012. For 2013, a few things seem likely. Expect interest rates to remain low and rents to rise, which will continue to drive buyer activity. Sellers should return to the marketplace in light of the improvements. Prices should remain firm and show moderate to strong gains. Foreclosure activity and job growth remain wildcards, but momentum is heading in the right direction.

In the Twin Cities region, for the week ending December 29:

  • New Listings decreased 40.1% to 358
  • Pending Sales decreased 12.6% to 442
  • Inventory decreased 30.0% to 12,916

For the month of November:

  • Median Sales Price increased 16.4% to $172,200
  • Days on Market decreased 26.5% to 103
  • Percent of Original List Price Received increased 3.6% to 94.2%
  • Months Supply of Inventory decreased 38.6% to 3.5

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

Posted in Weekly Report |
Wednesday, January 2nd, 2013


While you’re eating better and exercising more, also resolve to better understand the inner workings of your housing market. Data does not have to be daunting. Just from the existing trends, it’s safe to expect to see more homes selling in less time for closer to list price. It also looks like the single-family detached segment may recover faster than the condo-townhouse attached segment. It would be wise to watch foreclosure activity to see whether there will be fewer low-priced sales in 2013. Many patterns emerge if you look in the right places.

In the Twin Cities region, for the week ending December 22:

  • New Listings increased 9.5% to 657
  • Pending Sales increased 41.7% to 815
  • Inventory decreased 29.2% to 13,315

For the month of November:

  • Median Sales Price increased 16.4% to $172,287
  • Days on Market decreased 26.5% to 103
  • Percent of Original List Price Received increased 3.6% to 94.2%
  • Months Supply of Inventory decreased 38.8% to 3.5

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

Posted in Weekly Report |
Wednesday, December 26th, 2012


As we celebrate with family and friends this holiday season, we can take comfort in the fact that housing markets across the country are reaching their own holiday milestones. Even though the trend is our friend, recovery can often feel piecemeal: fewer foreclosures here, improved absorption rates there and lower days on market over there. But, overall, we’ve struck a positive stride, and momentum has a way of accumulating. Here’s a peek at the week’s housing market data.

In the Twin Cities region, for the week ending December 15:

  • New Listings decreased 3.6% to 773
  • Pending Sales increased 10.1% to 762
  • Inventory decreased 28.9% to 13,630

For the month of November:

  • Median Sales Price increased 16.2% to $172,000
  • Days on Market decreased 26.4% to 103
  • Percent of Original List Price Received increased 3.6% to 94.2%
  • Months Supply of Inventory decreased 39.5% to 3.4

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

Posted in Weekly Report |
Tuesday, December 25th, 2012

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 (2012 President-Elect, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Posted in Monthly Skinny Video |
Monday, December 17th, 2012


The chase to 2013 is on, and we are pleased by the prospects ahead. Given the upward progress of the 2012 housing market, many homeowners may find that their properties will be worth more next year. That’s a nice change of pace for potential sellers, and for residential real estate as a whole, and is a direct result of widespread improvements in the marketplace. Most of the positive trends we have seen in 2012 should persist into the new year. Let’s take a peek at what’s happening locally today.

In the Twin Cities region, for the week ending December 8:

  • New Listings increased 3.0% to 942
  • Pending Sales increased 12.6% to 788
  • Inventory decreased 28.8% to 13,832

For the month of November:

  • Median Sales Price increased 16.2% to $172,000
  • Days on Market decreased 26.2% to 103
  • Percent of Original List Price Received increased 3.6% to 94.2%
  • Months Supply of Inventory decreased 40.0% to 3.4

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

Posted in Weekly Report |

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