Category Archives: Weekly Report

For Week Ending October 17, 2015

Jobless claims have dropped once again, matching levels not seen since 1973. Housing sales have continued to perform well, which should not be a surprise to those active in the real estate industry. Good economic environments foster healthy housing, and persistent health should lead to a Federal Reserve rate hike before the year is over.

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

• New Listings decreased 0.2% to 1,301
• Pending Sales increased 9.8% to 1,001
• Inventory decreased 15.3% to 15,895

For the month of September:

• Median Sales Price increased 8.3% to $222,000
• Days on Market decreased 8.5% to 65
• Percent of Original List Price Received increased 1.0% to 96.6%
• Months Supply of Inventory decreased 26.1% to 3.4

All comparisons are to 2014

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

For Week Ending October 10, 2015

Supply and demand drive housing prices, and this basic economic tenet has been in the spotlight recently, as inventory remains low across the country while prices continue to edge up in many locales. Cash investment has gobbled up supply in some regions, while a lack of new construction has hit the supply side in others. The truth remains that there is still healthy demand in most corners. Every market and situation is unique, so let’s track the listings and sales for the week in your area.

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

• New Listings increased 2.5% to 1,453
• Pending Sales increased 13.0% to 1,053
• Inventory decreased 14.7% to 16,048

For the month of September:

• Median Sales Price increased 8.3% to $222,000
• Days on Market decreased 8.5% to 65
• Percent of Original List Price Received increased 1.0% to 96.6%
• Months Supply of Inventory decreased 26.1% to 3.4

All comparisons are to 2014

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

For Week Ending October 3, 2015

Recovery has been on fleek now for a while. On what? Okay, let’s use a more recognizable term, like on point. But we should all get used to the lingo of the new wave of buyers if we want to continue to set record-breaking bragging rights. With the summer now well behind us, the week-over-week market trends will begin to wane. Hopefully, the fleek remains in year-over-year comparisons and all will be well through the end of the year.

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

• New Listings decreased 7.2% to 1,371
• Pending Sales increased 1.7% to 1,077
• Inventory decreased 15.1% to 16,390

For the month of September:

• Median Sales Price increased 8.3% to $222,000
• Days on Market decreased 8.5% to 65
• Percent of Original List Price Received increased 1.0% to 96.6%
• Months Supply of Inventory decreased 26.1% to 3.4

All comparisons are to 2014

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

For Week Ending September 26, 2015

The national economy continues to show reason for optimism, and the residential real estate market has taken the cue to react positively. As mortgage rates hover along the lowest marks seen in decades and affordability remains relatively high, more people have would seemingly have an opportunity to buy a home. Sales figures have been showing that buyers are still active, but inventory figures are starting to show that sellers are, as a unit, lagging and possibly waiting until next spring to get into the action.

In the Twin Cities region, for the week ending September 26:

• New Listings decreased 2.7% to 1,390
• Pending Sales increased 9.0% to 1,021
• Inventory decreased 14.6% to 16,529

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 19, 2015

All roads continue to point to normal as fall is upon us. Nary a warning bell has sounded about anything beyond the typical seasonal drop-off. From the mouths of market-analyzing pundits, we are in the midst of one of the best housing markets in the last 15 years. This, of course, makes for a great autumn, along with pumpkin- spiced lattes and cinnamon apple spiced tea, of course.

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

• New Listings decreased 0.4% to 1,613
• Pending Sales increased 18.0% to 1,090
• Inventory decreased 13.8% to 16,606

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 12, 2015

With home prices steadily rising in year-over-year comparisons, houses are becoming less affordable for buyers – but not less desirable. Thanks in part to the improving job market, there has been more demand from both buyers and renters. Mimicking this, housing starts have climbed nicely in the past year, and recent studies indicate the percentages of housing starts will remain strong in the coming months.

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

• New Listings decreased 6.0% to 1,549
• Pending Sales decreased 0.8% to 965
• Inventory decreased 14.1% to 16,433

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending September 5, 2015

Year-over-year home value percentages have continued to rise across the nation. Millennials have been pinpointed as the driver of the price increases, as this age group continues to show a willingness to ditch high rental costs while taking a step toward a commitment to homeownership at prices that may surpass last year at this time.

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

• New Listings decreased 12.7% to 1,443
• Pending Sales increased 31.9% to 1,167
• Inventory decreased 12.6% to 16,537

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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

For Week Ending August 29, 2015

The stock market has been experiencing a bit of a tizzy of late, but that does not seem to have had huge ramifications for housing. The Mortgage Bankers Association recently reported that mortgage applications and refinancing have both been on the rise, likely in order to get ahead of an expected rate hike by the Federal Reserve. While stock market flux can have undesirable ripples throughout the economy, it appears that housing has remained relatively untouched for the time being.

In the Twin Cities region, for the week ending August 29:

• New Listings increased 13.0% to 1,534
• Pending Sales increased 8.3% to 1,171
• Inventory decreased 13.0% to 16,777

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 17.4% to 3.8

All comparisons are to 2014

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

For Week Ending August 22, 2015

In numerous metropolitan markets across the country, the S&P/Case–Shiller Home Price Index has indicated that home prices have risen during summer, confirming the trends evident by examining MLS data. That’s no surprise from month to month, but it’s also true in year-over-year comparisons. As ideal summer weather diverges toward autumn, we will begin to see some seasonal relaxation, but the market should still look positive when compared to last year. It’s been another good year for residential real estate, and that is expected to continue.

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

• New Listings decreased 3.1% to 1,490
• Pending Sales increased 5.8% to 1,235
• Inventory decreased 12.4% to 16,992

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 19.6% to 3.7

All comparisons are to 2014

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

For Week Ending August 15, 2015

According to statistics jointly released by the U.S. Census Bureau and the Department of Housing and Urban Development, privately-owned housing starts rose 0.2 percent when comparing July 2015 to the prior month and 10.1 percent when compared to July 2014. These numbers are at the highest levels the market has seen since October 2007. This bodes well for the eventual landing of a flock of potential buyers currently holding in a rental pattern or the wakening of those resting in extended parental basement hibernation.

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

• New Listings increased 3.1% to 1,746
• Pending Sales increased 18.9% to 1,268
• Inventory decreased 12.3% to 16,950

For the month of July:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.4% to 63
• Percent of Original List Price Received increased 0.8% to 97.6%
• Months Supply of Inventory decreased 19.6% to 3.7

All comparisons are to 2014

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