Category Archives: Weekly Report

Price growth. It has been the result of low inventory in the market these days, and it would appear that the duration of the summer market will continue to see an increase in year-over-year median sales price. If inventory makes a significant leap, perhaps we’ll see a different sort of impact on housing prices. Until then, the longer buyers wait, the more risk they take of paying a little bit more for that house key.

In the Twin Cities region, for the week ending June 7:

• New Listings increased 10.3% to 2,154
• Pending Sales decreased 0.7% to 1,283
• Inventory increased 6.2% to 16,453

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 8.3% to 3.9

All comparisons are to 2013

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

Sales are generally coming in slower this year compared to last year, and the market continues to find its way toward balance despite relatively low inventory. This may trick the housing novice into believing that the U.S. market is headed for a disappointing summer season. Not so fast. Although housing may not be as booming as early 2013, it isn’t anywhere near as bust of late 2008. The stabilization of housing is still evolving wonderfully, like VHS to DVD to DVR.

In the Twin Cities region, for the week ending May 31:

• New Listings increased 1.8% to 1,744
• Pending Sales decreased 4.7% to 1,110
• Inventory increased 6.1% to 16,231

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 8.3% to 3.9

All comparisons are to 2013

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

The yellow brick road to complete housing recovery has the trees whispering of rising home prices and low inventory. Luckily, these trees won’t throw apples at us. Even though improvements appear flat in nature as we progress through each month, year-over-year comparisons still show encouraging overall trends. The full splendor of Emerald City (and Emeraldville, Emeraldton, Emerald Township, etc.) is just a skip and a song away.

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

• New Listings increased 3.9% to 1,870
• Pending Sales decreased 3.0% to 1,294
• Inventory increased 5.6% to 15,957

For the month of April:

• Median Sales Price increased 7.5% to $196,158
• Days on Market decreased 9.3% to 88
• Percent of Original List Price Received decreased 0.1% to 95.9%
• Months Supply of Inventory increased 2.9% to 3.5

All comparisons are to 2013

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

Higher prices gave sellers reason for optimism in early 2014. As prices stabilize, some are sensing the formation of a counter-trend. Silly rabbits. Price alone does not determine the state of the housing market. Number of sales by housing segment, the types of households being formed and the availability of well-paying jobs all play important roles to housing health. As the summer months approach, things like inventory of homes for sale, new listings and number of days on market until sale, along with pricing, will help predict the direction of the housing market.

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

• New Listings increased 10.0% to 2,039
• Pending Sales decreased 8.3% to 1,175
• Inventory increased 4.1% to 15,432

For the month of April:

• Median Sales Price increased 7.5% to $196,129
• Days on Market decreased 8.2% to 89
• Percent of Original List Price Received decreased 0.1% to 95.9%
• Months Supply of Inventory increased 2.9% to 3.5

All comparisons are to 2013

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

April showers bring the Speedwell. This could have been the mantra if 1620 had gone differently (go ahead and Google it). Either way, the May flowers are rising high even as mortgage rates stay persistently low, which helps boost affordability regardless of rising prices. More mortgage applications means more first-time buyers dipping into homeownership. Lower unemployment levels will also help direct buyers toward the rosy scent of a new home.

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

• New Listings increased 6.5% to 1,979
• Pending Sales increased 0.1% to 1,264
• Inventory increased 3.5% to 15,009

For the month of April:

• Median Sales Price increased 7.6% to $196,425
• Days on Market decreased 8.2% to 89
• Percent of Original List Price Received decreased 0.1% to 95.9%
• Months Supply of Inventory remained flat at 3.4

All comparisons are to 2013

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

Market normalization and an improved product mix is presented as housing weakness by some. However, price increases, demand and an improving national economic scene paint a brighter housing landscape. According to the Mortgage Bankers Association, total week-over-week mortgage application volume rose 5.3 percent on a seasonally adjusted basis. The trends for the drivers of new housing starts are as important as the trends within residential real estate. Where you find money and jobs, you find a fruitful housing market.

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

• New Listings increased 1.4% to 1,856
• Pending Sales decreased 13.4% to 1,203
• Inventory increased 2.6% to 14,688

For the month of April:

• Median Sales Price increased 7.6% to $196,425
• Days on Market decreased 8.2% to 89
• Percent of Original List Price Received decreased 0.2% to 95.8%
• Months Supply of Inventory remained flat at 3.4

All comparisons are to 2013

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

There have already been a few items to watch in the burgeoning spring market, particularly around price, sales and inventory. Median sales prices are on the rise while sales have been a wee bit stubborn emerging from winter hibernation. Meanwhile, more choices are still needed for eager buyers. There’s still plenty of time for the market to catch fire, and there’s no reason to believe that it won’t.

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

• New Listings increased 25.6% to 1,906
• Pending Sales decreased 2.4% to 1,212
• Inventory increased 0.5% to 14,318

For the month of March:

• Median Sales Price increased 7.6% to $189,950
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 3.0% to 3.2

All comparisons are to 2013

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

Science fairs, book swaps and spring sports have kept winter-weary minds off of what superficially appears to be a mixed beginning to what is typically a cheery second quarter. Most economists, however, believe that the coalescence of market normalization, an improving sales mix and good housing starts are all working behind the scenes to alleviate the growing pains of a market in recovery. Housing is already starting to see signs of upward price pressure, rising consumer confidence and some inventory relief.

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

• New Listings decreased 2.8% to 1,571
• Pending Sales decreased 5.3% to 1,227
• Inventory decreased 0.5% to 14,148

For the month of March:

• Median Sales Price increased 7.6% to $189,950
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1

All comparisons are to 2013

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

There’s no dainty tiptoeing through the tulips this spring, as market flower fields are blooming with speculation. Sales and new listings are up, and hope for a fluorescent spring market is flourishing. An increase in inventory is the desire at this point in the season, as more properties for sale should nudge first-time home buyers to sow their fledgling seeds in the housing market and encourage move-up buyers to say goodbye to familiar flower beds in favor of an upsized plot across town.

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

• New Listings increased 19.9% to 1,925
• Pending Sales increased 1.8% to 1,157
• Inventory decreased 2.4% to 13,736

For the month of March:

• Median Sales Price increased 7.6% to $190,000
• Days on Market decreased 11.1% to 96
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1

All comparisons are to 2013

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

April reporting brings hope as tulips and FOR SALE signs begin to brighten the housing landscape. Along with that hope is a little uncertainty about some regions’ year-over-year sales and inventory figures. Fear not, however, because rates are still lower than most years in modern memory, there’s proof of an improving mix of properties for sale on the national landscape and upward price pressure continues to motivate potential home buyers. Watch listing activity closely for more hints as to what may be unearthed next.

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

• New Listings increased 6.1% to 1,839
• Pending Sales decreased 7.1% to 1,026
• Inventory decreased 3.6% to 13,241

For the month of March:

• Median Sales Price increased 7.6% to $190,000
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1

All comparisons are to 2013

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