Monday, March 12th, 2012

The last six years or so have been tough on home prices, and even the most optimistic prognosticators say it will take another six years for median sales prices to approach the halcyon days of assured annual value increases for home sellers. Generations of stable home price increases gave way to a boom-and-bust cycle that would have made the Pets.com sock puppet blush. As we enter what should be an active spring market, our communities would do well to focus effort toward creating healthy, happy homes. With those in place, prices will rise again.

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

  • New Listings decreased 23.2% to 1,402
  • Pending Sales increased 29.7% to 940
  • Inventory decreased 22.9% to 17,818

For the month of February:

  • Median Sales Price decreased 1.1% to $138,500
  • Days on Market decreased 9.0% to 145
  • Percent of Original List Price Received increased 2.6% to 90.6%
  • Months Supply of Inventory decreased 36.5% to 4.6

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |
Monday, February 27th, 2012

The week left yet another trail of evidence leading back to a housing market on the mend. This time, the encouraging signs were even less clandestine. Nationally, both new and existing home sales enjoyed improvements. Even some December numbers were upwardly revised. New home sales have real and noticeable impacts on GDP, thus generating jobs and driving down unemployment. The overall bias for the entire U.S. is firmly toward balance. Locally, market activity was mostly positive. Spring will still be the major tell.

In the Twin Cities region, for the week ending February 18:

  • New Listings decreased 7.1% to 1,256
  • Pending Sales increased 28.6% to 899
  • Inventory decreased 23.2% to 17,756

For the month of January:

  • Median Sales Price decreased 3.4% to $140,000
  • Days on Market decreased 8.5% to 142
  • Percent of Original List Price Received increased 3.4% to 91.2%
  • Months Supply of Inventory decreased 34.6% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny, Uncategorized |
Wednesday, February 22nd, 2012

The National Association of Homebuilders index recently rose to levels not seen since 2007. Historically, it’s been a great leading indicator of housing starts. We lead with this information because it is just the latest in a series of testimonials toward a market with some wind in its sails. In as few as four months, the residential real estate scene could look quite different than it has in recent years. That’s not to say that we’re wave riding our way to a national housing boom, but market fundamentals could be steering the rudder in the direction of calmer waters. For sellers eager to get out but unwilling to take capital losses, that’s more relieving than the usual threat of hull breach.

In the Twin Cities region, for the week ending February 11:

  • New Listings decreased 0.4% to 1,313
  • Pending Sales increased 28.9% to 928
  • Inventory decreased 23.5% to 17,690

For the month of January:

  • Median Sales Price decreased 3.4% to $140,000
  • Days on Market decreased 8.5% to 142
  • Percent of Original List Price Received increased 3.4% to 91.2%
  • Months Supply of Inventory decreased 34.6% to 4.7

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |
Wednesday, February 22nd, 2012

Posted in Monthly Skinny Video |
Tuesday, February 14th, 2012

It was a week full of intrigue if ever there was one. A positive jobs report gave way to bullish activity on Wall Street backed by heroics from the hometown team, as the Giants showcased their Manning(ham) magic. Meanwhile, dozens of state attorneys general brokered a deal that will likely include principal write-downs. In local housing news, buyers made more purchases while sellers listed fewer properties than during the same week in 2011. Other indicators have recently showcased key improvements elsewhere in the marketplace. The most notable trend is fewer active listings. Buyers in wait-and-see mode may find themselves with more competition for fewer properties come spring.

In the Twin Cities region, for the week ending February 4:

  • New Listings decreased 6.7% to 1,236
  • Pending Sales increased 35.8% to 888
  • Inventory decreased 23.2% to 17,697

For the month of January:

  • Median Sales Price decreased 3.4% to $140,000
  • Days on Market decreased 8.4% to 142
  • Percent of Original List Price Received increased 3.4% to 91.2%
  • Months Supply of Inventory decreased 35.2% to 4.6

Click here for the full Weekly Market Activity Report.

From The Skinny.

Posted in The Skinny |

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