For Week Ending November 21, 2015

We’re still looking at better-than-expected new listing and sales activity in most markets across the country, while overall inventory and months’ supply of inventory remains down. While the addition of new listings and an increase in sales activity will not always be up in year-over-year comparisons on a weekly basis, the trend has remained rather optimistic into the year-end months that typically see a slowness in residential real estate activity. Anecdotally, this feels like a response to the inevitable rate hike that is coming before 2015 is complete.

In the Twin Cities region, for the week ending November 21:

• New Listings decreased 0.3% to 855
• Pending Sales increased 4.2% to 823
• Inventory decreased 16.2% to 14,207

For the month of October:

• Median Sales Price increased 3.9% to $216,000
• Days on Market decreased 2.8% to 70
• Percent of Original List Price Received increased 0.9% to 96.1%
• Months Supply of Inventory decreased 25.6% to 3.2

All comparisons are to 2014

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