For Week Ending May 11, 2019

There is no such thing as a national real estate market. When the median sales price of homes for sale in San Francisco ($1.6 million) are compared to the median annual household income in Youngstown, Ohio ($26,295), it is especially evident. National news outlets will report on housing stories as though one size fits all, but this is particularly untrue in 2019 – not only in terms of home pricing compared to income, but with trends in new listings and pending sales.

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

• New Listings decreased 1.7% to 2,044
• Pending Sales decreased .1% to 1,531
• Inventory increased 1.5% to 10,245

For the month of April:

• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 5.7% to 56
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending May 4, 2019

The national chatter over the past couple of weeks has been about royal babies, exciting NBA and NHL playoff games, heightened talk of higher tariffs for China, lackluster tech IPOs and, of course, who will sit on the Iron Throne. Mixed in with those conversations have been thousands of discussions about the housing market at coffee shops, over backyard fences and at real estate industry conventions. The selling season is upon us, and homes are moving quickly.

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

• New Listings decreased 1.6% to 2,029
• Pending Sales decreased 12.9% to 1,338
• Inventory increased 1.1% to 9,897

For the month of March:

• Median Sales Price increased 6.5% to $275,000
• Days on Market increased 15.8% to 66
• Percent of Original List Price Received decreased 0.5% to 98.6%
• Months Supply of Homes For Sale increased 5.6% to 1.9

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending April 27, 2019

The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.

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

• New Listings increased 10.1% to 1,953
• Pending Sales decreased 4.1% to 1,363
• Inventory decreased 1.8% to 9,492

For the month of March:

• Median Sales Price increased 6.5% to $275,000
• Days on Market increased 15.8% to 66
• Percent of Original List Price Received decreased 0.5% to 98.6%
• Months Supply of Homes For Sale increased 5.6% to 1.9

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending April 27, 2019

The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But in order for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.

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

• New Listings increased 10.1% to 1,953
• Pending Sales decreased 4.1% to 1,363
• Inventory decreased 1.8% to 9,492

For the month of March:

• Median Sales Price increased 6.5% to $275,000
• Days on Market increased 15.8% to 66
• Percent of Original List Price Received decreased 0.5% to 98.6%
• Months Supply of Homes For Sale increased 5.6% to 1.9

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending April 20, 2019

Despite one of the latest snowfalls in recent memory in places like North Dakota, Idaho, Colorado, Wisconsin and Illinois, among other Western and Midwestern states, house hunters in these locales and other warmer places do not seem particularly phased by wintry or wet weather. The spring market has sprung, and new listings are pressing upward with more frequency in several markets. Sales remain lower than last year in much of the country. Here is how the local market is faring.

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

• New Listings decreased 5.3% to 1,581
• Pending Sales decreased 0.7% to 1,330
• Inventory decreased 1.5% to 9,405

For the month of March:

• Median Sales Price increased 6.5% to $275,000
• Days on Market increased 15.8% to 66
• Percent of Original List Price Received decreased 0.5% to 98.6%
• Months Supply of Homes For Sale increased 5.6% to 1.9

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.