Category Archives: Weekly Report

Weekly Market Report

For Week Ending July 22, 2017

Residential real estate activity has remained robust through the summer months so far. New listing and sales activity may not always land exactly where desired or expected from week to week, but it is clear by gradually increasing prices and ongoing low inventory that buyer demand has not weakened.

In the Twin Cities region, for the week ending July 22:

  • New Listings increased 0.9% to 1,842
  • Pending Sales decreased 6.3% to 1,297
  • Inventory decreased 17.2% to 12,555

For the month of June:

  • Median Sales Price increased 7.0% to $259,000
  • Days on Market decreased 16.1% to 47
  • Percent of Original List Price Received increased 0.8% to 99.5%
  • Months Supply of Inventory decreased 13.3% to 2.6

All comparisons are to 2016

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

Weekly Market Report

For Week Ending July 15, 2017

The primary selling season tends to begin a subtle slowdown at this point in the year. That does not necessarily equate to less competition for available housing stock. While total sales and inventory may be lower than at points earlier in the year, those still looking for homes tend to match up with those willing to list. Call it a back-to-school effect or call it an active and healthy residential real estate market no matter the season.

In the Twin Cities region, for the week ending July 15:

  • New Listings increased 2.2% to 1,936
  • Pending Sales decreased 3.9% to 1,371
  • Inventory decreased 17.7% to 12,362

For the month of June:

  • Median Sales Price increased 7.0% to $259,000
  • Days on Market decreased 16.1% to 47
  • Percent of Original List Price Received increased 0.8% to 99.5%
  • Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

Weekly Market Report

For Week Ending July 8, 2017

From a heart-of-summer perspective, the residential real estate market has performed as expected when predictions were made at the front of the year. Buyer interest is high and inventory is not at a proper level to meet demand. Total sales and new listings are generally behind last year’s levels from week to week, but there is evidence of improvement in both metrics.

In the Twin Cities region, for the week ending July 8:

  • New Listings decreased 16.9% to 1,371
  • Pending Sales decreased 4.7% to 1,061
  • Inventory decreased 16.7% to 12,351

For the month of June:

  • Median Sales Price increased 7.0% to $259,000
  • Days on Market decreased 16.1% to 47
  • Percent of Original List Price Received increased 0.8% to 99.5%
  • Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

Weekly Market Report

For Week Ending July 1, 2017

Nationally and locally, economic conditions affecting residential real estate have not changed much this year, which is good for market stability. The most recent jobs report was favorable, while unemployment and mortgage rates both remain satisfyingly reasonable. If there were more homes for sale, we might see a shift in prices. Although builder and seller confidence are high, we are not close to a trend change in that regard.

In the Twin Cities region, for the week ending July 1:

  • New Listings decreased 0.1% to 1,587
  • Pending Sales decreased 5.6% to 1,377
  • Inventory decreased 16.5% to 12,628

For the month of May:

  • Median Sales Price increased 5.5% to $250,000
  • Days on Market decreased 15.0% to 51
  • Percent of Original List Price Received increased 0.9% to 99.5%
  • Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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

Weekly Market Report

For Week Ending June 24, 2017

We are now beyond two years of year-over-year declines in inventory, and it doesn’t look like the situation is going to change anytime soon. However, buyer demand and home prices are still rising, and the number of distressed homes on the market has fallen. It would be great to see more starter homes on the docket for new construction during these next few busy building months to help those that are looking to enter the market.

In the Twin Cities region, for the week ending June 24:

  • New Listings increased 1.2% to 1,928
  • Pending Sales decreased 1.1% to 1,405
  • Inventory decreased 16.3% to 12,481

For the month of May:

  • Median Sales Price increased 5.5% to $250,000
  • Days on Market decreased 15.0% to 51
  • Percent of Original List Price Received increased 0.9% to 99.5%
  • Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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

Weekly Market Report

For Week Ending June 17, 2017

As Millennials get older and more established in their careers, more of them are
entering the housing market. Nationwide sales rose to the third-highest level since
the housing crisis a decade ago, while home prices also hit record highs. Although
increasing prices may push some out of the running for a home purchase, mortgage
rates remain low enough to lure potential buyers.

In the Twin Cities region, for the week ending June 17:

  • New Listings decreased 6.6% to 1,840
  • Pending Sales decreased 4.8% to 1,396
  • Inventory decreased 16.2% to 12,316

For the month of May:

  • Median Sales Price increased 5.5% to $250,000
  • Days on Market decreased 15.0% to 51
  • Percent of Original List Price Received increased 0.9% to 99.5%
  • Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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

Weekly Market Report

For Week Ending June 10, 2017

New buyers wanting to make their first home purchase are finding that they would have to spend more of their monthly incomes in order to do so. Higher prices during the busiest months of the selling season are giving some buyers pause, which is partly due to low inventory and the slow-moving pace of new home construction. In addition, some would-be sellers are staying put instead of trying to find a replacement home in a competitive environment, which can further stall inventory growth.

In the Twin Cities region, for the week ending June 10:

  • New Listings increased 2.3% to 2,102
  • Pending Sales decreased at 1,442
  • Inventory decreased 16.1% to 12,107

For the month of May:

  • Median Sales Price increased 5.5% to $250,000
  • Days on Market decreased 15.0% to 51
  • Percent of Original List Price Received increased 0.9% to 99.5%
  • Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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

Weekly Market Report

For Week Ending June 3, 2017

Whether or not new listings or total sales are up or down in week-to-week measures, there are two universal truths in residential real estate across the country at the moment: the market is quite active, and, thus, overall inventory is still trending downward compared to last year. That will likely be the case for the entirety of 2017, especially at the pace that homes are coming off the market.

In the Twin Cities region, for the week ending June 3:

  • New Listings decreased 2.2% to 1,971
  • Pending Sales increased 2.4% to 1,306
  • Inventory decreased 16.0% to 11,870

For the month of April:

  • Median Sales Price increased 6.3% to $245,500
  • Days on Market decreased 20.5% to 58
  • Percent of Original List Price Received increased 1.2% to 99.2%
  • Months Supply of Inventory decreased 17.9% to 2.3

All comparisons are to 2016

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

Weekly Market Report

For Week Ending May 27, 2017

The current situation for residential real estate is the ongoing situation for residential real estate. The market is active, and the trend lines are showing nothing out of a long-standing ordinary. There may not be as many homes for sale as one would like, and price increases are starting to make one look more closely at affordability, but real estate professionals are busy, and buyers and sellers are dancing in mutually beneficial transactional pairs.

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

  • New Listings decreased 2.7% to 1,689
  • Pending Sales decreased 13.9% to 1,439
  • Inventory decreased 17.0% to 11,850

For the month of April:

  • Median Sales Price increased 6.3% to $245,500
  • Days on Market decreased 20.5% to 58
  • Percent of Original List Price Received increased 1.2% to 99.2%
  • Months Supply of Inventory decreased 17.9% to 2.3

All comparisons are to 2016

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

Weekly Market Report

For Week Ending May 20, 2017

Mortgage rates have fallen to their lowest levels so far this year but remain above where they were last year at this time. The market has proven to be ready for higher rates, as many homes continue to sell rapidly, often above the asking price. As long as there is ample supply, which is not a given in every market, 2017 should continue to be a great year for residential real estate.

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

  • New Listings decreased 6.5% to 2,059
  • Pending Sales decreased 10.1% to 1,498
  • Inventory decreased 17.0% to 11,671

For the month of April:

  • Median Sales Price increased 6.4% to $245,750
  • Days on Market decreased 20.5% to 58
  • Percent of Original List Price Received increased 1.2% to 99.2%
  • Months Supply of Inventory decreased 17.9% to 2.3

All comparisons are to 2016

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