For Week Ending September 26, 2015

The national economy continues to show reason for optimism, and the residential real estate market has taken the cue to react positively. As mortgage rates hover along the lowest marks seen in decades and affordability remains relatively high, more people have would seemingly have an opportunity to buy a home. Sales figures have been showing that buyers are still active, but inventory figures are starting to show that sellers are, as a unit, lagging and possibly waiting until next spring to get into the action.

In the Twin Cities region, for the week ending September 26:

• New Listings decreased 2.7% to 1,390
• Pending Sales increased 9.0% to 1,021
• Inventory decreased 14.6% to 16,529

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 19, 2015

All roads continue to point to normal as fall is upon us. Nary a warning bell has sounded about anything beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the best housing markets in the last 15 years. This, of course, makes for a great autumn, along with pumpkin- spiced lattes and cinnamon apple spiced tea, of course.

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

• New Listings decreased 0.4% to 1,613
• Pending Sales increased 18.0% to 1,090
• Inventory decreased 13.8% to 16,606

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 12, 2015

With home prices steadily rising in year-over-year comparisons, houses are becoming less affordable for buyers – but not less desirable. Thanks in part to the improving job market, there has been more demand from both buyers and renters. Mimicking this, housing starts have climbed nicely in the past year, and recent studies indicate the percentages of housing starts will remain strong in the coming months.

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

• New Listings decreased 6.0% to 1,549
• Pending Sales decreased 0.8% to 965
• Inventory decreased 14.1% to 16,433

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 5, 2015

Year-over-year home value percentages have continued to rise across the nation. Millennials have been pinpointed as the driver of the price increases, as this age group continues to show a willingness to ditch high rental costs while taking a step toward a commitment to homeownership at prices that may surpass last year at this time.

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

• New Listings decreased 12.7% to 1,443
• Pending Sales increased 31.9% to 1,167
• Inventory decreased 12.6% to 16,537

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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