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Tuesday, July 29th, 2014

By Aubray Erhardt on Monday, July 28th, 2014

Finding the truth behind housing statistics is like debating the best beer for summertime. On the beer side, you might pick an American wheat, Belgian white, shandy, Kolsch, cider or maybe a Coors Light if you’re into the pickup truck and dirt road scene. On the housing side, you might say we’re too heavy toward a seller’s market as prices rise, that another buyer’s market is over the horizon if inventory pushes up or that things are just right for the first time in years. No matter where your submarket sits on the scale, it’s safe to say that MLS data is the best base for a meaningful opinion and that a doppelbock is not a good base for an outdoor barbecue in the middle of July.

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

  • New Listings increased 10.4% to 1,913
  • Pending Sales decreased 1.0% to 1,145
  • Inventory increased 8.9% to 18,011

For the month of June:

  • Median Sales Price increased 4.7% to $219,900
  • Days on Market decreased 6.8% to 69
  • Percent of Original List Price Received decreased 0.3% to 97.2%
  • Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

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

Posted in Weekly Report |
Friday, July 25th, 2014

We are within one of the most affordable home-buying environments in history, but prices are up and rates may well go up, too. Rising prices provide empirical evidence of healthy demand. If inventory is able to replenish itself over the course of the next several months, sales could break up the sluggishness seen in some markets. There are those who believe that millennial buyers are being seduced away from homeownership by the agility of urban renting. That doesn’t appear to be the case. Housing is enjoying brisk activity, and people are talking positively about residential real estate again.

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

  • New Listings increased 8.7% to 2,091
  • Pending Sales decreased 8.4% to 1,231
  • Inventory increased 7.8% to 17,606

For the month of June:

  • Median Sales Price increased 4.7% to $219,900
  • Days on Market decreased 6.8% to 69
  • Percent of Original List Price Received decreased 0.3% to 97.2%
  • Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

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

Posted in Weekly Report |
Monday, July 21st, 2014

By Aubray Erhardt on Monday, July 14th, 2014

Pending sales are back and ready to rumble along with their trusty comrade, inventory. After a slower start to the year, the numbers are rallying for a comeback. However, one number not rising is the number of people filing for unemployment. According to the U.S. Department of Labor, jobless applications continued their downward trend. This could help families pad downpayment funds. With more inventory to choose from, there aren’t any cheap shots in this boxing match.

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

  • New Listings increased 14.8% to 1,269
  • Pending Sales increased 17.4% to 1,045
  • Inventory increased 7.7% to 17,587

For the month of June:

  • Median Sales Price increased 4.7% to $219,900
  • Days on Market decreased 6.8% to 69
  • Percent of Original List Price Received decreased 0.3% to 97.2%
  • Months Supply of Inventory increased 10.5% to 4.2

All comparisons are to 2013

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

Posted in Weekly Report |
Monday, July 21st, 2014

Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Cotty Lowry (2014 Treasurer, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Monday, July 7th, 2014

Was the entirety of the U.S. fixated on footy while the Americans still had a shot? Maybe for 90 minutes here and there, but the distraction of quadrennial global sports entertainment is not enough to affect weekly sales activity in a country more in line with the Super Bowl than the World Cup. More accurate indicators of upcoming housing performance can be found in positive jobs activity that can spur real change in housing formation and reformation. With employers adding a seasonally adjusted 288,000 jobs last month and unemployment down to 6.1 percent, this summer has additional brightness to go with the high sun.

In the Twin Cities region, for the week ending June 28:

  • New Listings increased 5.9% to 1,844
  • Pending Sales decreased 8.5% to 1,244
  • Inventory increased 7.0% to 17,583

For the month of May:

  • Median Sales Price increased 8.2% to $210,000
  • Days on Market decreased 7.0% to 80
  • Percent of Original List Price Received decreased 0.2% to 96.8%
  • Months Supply of Inventory increased 11.1% to 4.0

All comparisons are to 2013

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

Posted in Weekly Report |