Monday, November 19th, 2012


Housing continues to be a bright spot in the national economy. Locally, we enjoyed more sales and additional seller activity. As prices firm up, some sellers will be lifted out of unenviable positions while others will receive a confidence booster. That’s a good thing, since buyers at some price points are struggling to find inventory. Additional evidence of turnaround will come by way of days on market, the average ratio of sold to list price and absorption rates generally under five months.

In the Twin Cities region, for the week ending November 10:

  • New Listings decreased 9.0% to 1,015
  • Pending Sales increased 11.3% to 883
  • Inventory decreased 29.1% to 15,007

For the month of October:

  • Median Sales Price increased 14.8% to $175,000
  • Days on Market decreased 25.3% to 103
  • Percent of Original List Price Received increased 3.5% to 94.5%
  • Months Supply of Inventory decreased 40.5% to 3.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Monday, November 12th, 2012


1.3 million. That’s how many Americans were reportedly lifted out of underwater mortgage situations this year from rising home prices, according to the Obama administration’s October Housing Scorecard. There’s more going on than meets the eye here. Rising prices also help restore tax base, decreasing the likelihood of tax increases later. National GDP even benefits. When real estate is chugging along, things are good. And now, arguably more so than ever in the past four or
five years, real estate is starting to chug again. It’s not at full speed yet, but the open track ahead beckons.

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

  • New Listings decreased 1.0% to 1,125
  • Pending Sales increased 25.3% to 930
  • Inventory decreased 27.7% to 15,434

For the month of October:

  • Median Sales Price increased 14.8% to $174,995
  • Days on Market decreased 25.0% to 103
  • Percent of Original List Price Received increased 3.5% to 94.4%
  • Months Supply of Inventory decreased 41.0% to 3.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Monday, November 5th, 2012

Over the course of the year, we’ve cleverly devised new tactics each week to communicate just how far the market has come. This week is no exception. Most level-headed housing advocates agree that lower residential vacancy rates are a good thing. Well, chalk one up for level-headed housing advocates, because Reuters just reported that the U.S. residential vacancy rate fell to 1.9 percent in the third quarter. That’s the lowest level in seven years. It’s just the latest installment of overwhelming bullish housing news.

In the Twin Cities region, for the week ending October 27:

  • New Listings decreased 3.0% to 1,037
  • Pending Sales increased 11.1% to 914
  • Inventory decreased 28.8% to 15,700

For the month of September:

  • Median Sales Price increased 12.7% to $174,625
  • Days on Market decreased 28.5% to 101
  • Percent of Original List Price Received increased 4.1% to 94.8%
  • Months Supply of Inventory decreased 38.8% to 4.1

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in Weekly Report |
Monday, October 29th, 2012

The housing market is improving. But don’t take our word for it. CoreLogic, Standard & Poor’s, FHFA and the NAHB all closely monitor a diverse array of housing data and indicators. At some point over the past six months, every single one of these indices has either reached a multi-year high or has shown several consecutive months of improvements. Does that mean every home in every neighborhood in every city across America is worth more today than it was a year ago? Of course not. But you’d be surprised just how robust this recovery is. Go ahead, dig into the numbers and see for yourself.

In the Twin Cities region, for the week ending October 20:

  • New Listings increased 0.6% to 1,110
  • Pending Sales increased 33.3% to 1,012
  • Inventory decreased 28.5% to 15,903

For the month of September:

  • Median Sales Price increased 12.8% to $174,813
  • Days on Market decreased 28.5% to 101
  • Percent of Original List Price Received increased 4.0% to 94.8%
  • Months Supply of Inventory decreased 39.2% to 4.1

Click here for the full Weekly Market Activity Report.

From The Skinny.

Monday, October 22nd, 2012

Housing pessimism is as out of fashion nowadays as bell bottoms and shoulder pads. Those who are still fishing for that elusive “market bottom” have likely missed it in most areas. The major story continues to be tightened inventory and high buyer turnout. Homes should be selling faster and for closer to list price – or even above in the hottest neighborhoods. Continue to monitor key differences between the foreclosure and traditional segments as well as variability between the single-family and condo markets.

In the Twin Cities region, for the week ending October 13:

  • New Listings increased 7.3% to 1,252
  • Pending Sales increased 26.7% to 954
  • Inventory decreased 28.8% to 16,017

For the month of September:

  • Median Sales Price increased 12.6% to $174,500
  • Days on Market decreased 28.4% to 101
  • Percent of Original List Price Received increased 4.0% to 94.8%
  • Months Supply of Inventory decreased 39.6% to 4.1

Click here for the full Weekly Market Activity Report.

From The Skinny.

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