With the exciting sales pace of summer behind us, and focus now shifting inward toward family, school and other interests for many Americans, the numbers will start to dip in most markets. Seasonal shifts can be a drag, but it can also mean opportunity. Bargain hunters, first-time buyers, empty nesters, investors and younger buyers with no school-aged children are among the crowd that are not necessarily framed by the summer months. New construction is inching upwards, and the national unemployment rate dropped below 6.0 to 5.9 for the first time since 2008, so there’s still plenty of rosy attitude in a balanced market.

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

• New Listings decreased 1.3% to 1,431
• Pending Sales decreased 14.5% to 945
• Inventory increased 10.0% to 18,753

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

The season of crisp leaves, autumn colors and, yes, pumpkin spice lattes is upon us. Just in time for the fall equinox, mortgage applications have risen according to the Mortgage Bankers Association. Though the season will likely slow things considerably in some areas, it seems that buyers are not quite ready to succumb to the cinnamon haze that is fall just yet.

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

• New Listings increased 10.3% to 1,621
• Pending Sales decreased 5.0% to 930
• Inventory increased 9.4% to 18,644

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 18.4% to 4.5

All comparisons are to 2013

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

As September deepens, a certain level of seasonal housing market cooling is bound to occur, but year-over-year trends do not seem poised to offend. Overheated and undercooked markets might make pretty for media outlets, yet a balanced market is the best friend of the buyer, the seller and, frankly, the real estate practitioner. Seasonal dips are nothing to fret over. It is now and will continue to be best to measure residential real estate activity not by months but by years.

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

• New Listings increased 1.6% to 1,650
• Pending Sales decreased 1.0% to 993
• Inventory increased 9.5% to 18,513

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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

Normalization is the word of the day when describing real estate markets these days. Market recovery has taken hold in most parts of the nation, and as those markets approach prior peaks, price growth may come in line with more normal historical levels. In the short-term, this may mean some metrics exhibit year-over- year declines, but the long-term trend is still higher. While everyone is entitled to their theories, the slow-but-steady path we’ve seen in recent months is beginning to match a pattern we have seen for decades.

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

• New Listings increased 9.0% to 1,653
• Pending Sales increased 1.4% to 879
• Inventory increased 9.7% to 18,320

For the month of August:

• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 15.8% to 4.4

All comparisons are to 2013

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