For Week Ending February 13, 2016

Two central topics of conversation continue to be mortgage rates and the number of homes for sale. Turbulent financial markets have given way to even lower mortgage rates, bringing up the question of what will happen to rates as the year continues. Likewise, inventory has been on a general decline but supply should improve throughout the year.

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

• New Listings increased 9.0% to 1,411
• Pending Sales decreased 4.3% to 864
• Inventory decreased 21.3% to 10,440

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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

For Week Ending February 6, 2016

The typical winter humdrum has hit the U.S. real estate market, with the same trends from late January continuing into February. Fewer home choices means less competition for sellers, and buyers are still in the housing game with federal rate hikes not anticipated to deter home buying in 2016, as mortgage rates are expected to stay low.

In the Twin Cities region, for the week ending February 6:

• New Listings decreased 17.6% to 1,235
• Pending Sales increased 3.4% to 890
• Inventory decreased 21.0% to 10,257

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1

All comparisons are to 2015

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

For Week Ending January 30, 2016

At the close of January, we see the same market steadiness from last year continue into 2016. Higher home prices are predicted for the year, and there has been a continuing shortage of inventory. However, we should also see a strengthening labor market and further interest in purchasing a home by millennials, keeping things relatively unwavering and balanced.

In the Twin Cities region, for the week ending January 30:

• New Listings increased 0.7% to 1,017
• Pending Sales increased 0.2% to 873
• Inventory decreased 21.6% to 10,285

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1

All comparisons are to 2015

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

For Week Ending January 23, 2016

We’re just breaking into 2016, so it’s a bit early to say how the spring and summer markets are going to fare based on a few weeks of trend analysis, but for the most part, things are happening the way we expected to start the year. There are some nibbles of new listings being added to the market, and sales are taking root, but the overall number of homes for sale has some work to do in order to give this year the real steam it deserves.

In the Twin Cities region, for the week ending January 23:

• New Listings decreased 14.2% to 908
• Pending Sales increased 12.1% to 725
• Inventory decreased 20.7% to 10,403

For the month of December:

• Median Sales Price increased 9.9% to $219,900
• Days on Market decreased 11.2% to 79
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 31.3% to 2.2

All comparisons are to 2015

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

For Week Ending January 16, 2016

A pattern is emerging that shows a fresh willingness by sellers to put homes on the market and buyers to enter the market. New listings are on the rise, if not in year- over-year comparison, then certainly in week-over-week views, as we bounce well past the new year. Inventory is seemingly unfazed by the new 2016 calendar on the wall, as the trend line has remained roughly the same for the first weeks in January as the last weeks in December. If sales activity builds on what’s happening now and reaches a slow boil, it would be surprising if more inventory mix wasn’t added to the water soon.

In the Twin Cities region, for the week ending January 16:

• New Listings decreased 8.8% to 978
• Pending Sales increased 3.5% to 672
• Inventory decreased 20.3% to 10,392

For the month of December:

• Median Sales Price increased 9.9% to $219,900
• Days on Market decreased 11.2% to 79
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 31.3% to 2.2

All comparisons are to 2015

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