Category Archives: Weekly Report

As April encroaches and spring feels more official, so does the possibility of a brightened, exciting housing market. Even though some areas across the country have seen a pause in buyer activity, the fundamentals remain positive. Traditional home buyers are apt to bud like a spring mix of lavender, peonies and tulips. And home prices are rising as surely as soil is being tilled for another fruitful season, adding even more to those warm fuzzy feelings sure to come.

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

• New Listings increased 18.4% to 1,599
• Pending Sales decreased 5.6% to 1,101
• Inventory decreased 5.5% to 13,056

For the month of February:

• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 9.4% to 2.9

All comparisons are to 2013

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

This spring, investors are expected to play a less dominant role since there are fewer attractive bargains to be had. This allows room for younger families and individuals fed up with rent hikes. The affordability picture has come down but remains attractive, pressured by rising but not fully recovered prices and slightly higher rates. Despite some inventory shortages, several local markets are in balanced territory heading into the peak selling season.

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

• New Listings increased 2.6% to 1,490
• Pending Sales decreased 6.9% to 1,010
• Inventory decreased 6.8% to 12,791

For the month of February:

• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 12.5% to 2.8

All comparisons are to 2013

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

Spring is finally beginning to show its face after a long, cold winter in many parts of the country. Generally, housing activity is waking up as well. It’s been a slow start to the selling season thus far, but many believe this has more to do with the weather and lack of inventory than it does demand. Any gains may be moderate compared to a year ago, but most experts agree that market normalcy and stabilization are upon us.

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

• New Listings decreased 0.9% to 1,462
• Pending Sales decreased 13.1% to 912
• Inventory decreased 8.2% to 12,475

For the month of February:

• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 12.5% to 2.8

All comparisons are to 2013

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

More daylight should help bring more hours of long-desired activity to the housing market. As the spring market dawns, sellers may see prices continue to rise and more homes should find their way to market. As long as the economy continues to gain momentum and mortgages remain low, previously underwater sellers and eager buyers should find opportunities to talk business.

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

• New Listings increased 6.5% to 1,454
• Pending Sales decreased 14.7% to 821
• Inventory decreased 9.4% to 12,118

For the month of February:

• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 12.5% to 2.8

All comparisons are to 2013

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

Extreme winter weather may be partly responsible for sluggish durable goods sales, consumer spending, business inventories and exports. As more income goes toward heating bills, four-wheel alignments, frozen pipes and other winter expenses, there is less (or no) remaining discretionary income. Several southern cities were paralyzed by winter storms, costing the economy billions in lost productivity, while consumers were forced to hunker down for much of the winter in the Midwest and Northeast. Consumers should be more than ready for warmer days ahead.

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

• New Listings decreased 12.6% to 1,245
• Pending Sales decreased 8.6% to 901
• Inventory decreased 9.1% to 12,079

For the month of February:

• Median Sales Price increased 14.4% to $183,044
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.3% to 93.5%
• Months Supply of Inventory decreased 12.5% to 2.8

All comparisons are to 2013

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

Early 2014 data is telling us that the trend is still one of improvement, albeit not at the speedy pace we’d prefer. Spring hasn’t arrived yet and we’ll have to weather a few more months of unpredictable weather before the sing-song tempo of May markets return. Although we await warmer days ahead, there’s no need to wait to gear up for a headier market. Remaining on top of weekly trends and using data to bolster marketing efforts makes for a winner dinner.

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

• New Listings decreased 10.5% to 1,051
• Pending Sales decreased 17.5% to 726
• Inventory decreased 8.9% to 12,089

For the month of January:

• Median Sales Price increased 11.6% to $178,500
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
Months Supply of Inventory decreased 12.5% to 2.8

All comparisons are to 2013

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

Housing starts haven’t been quite as robust as forecast, climatological factors have chilled demand in many places and dramatic declines in foreclosure activity has become the norm in several housing markets. These factors can sometimes pull down overall sales numbers, so it’s important to dig beneath the headlines. All of this looks and feels like a natural part of the transition toward a healthier marketplace. Prices are still experiencing upward pressure, and sellers are still receiving competitive offers.

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

• New Listings decreased 2.9% to 1,162
• Pending Sales decreased 8.4% to 816
• Inventory decreased 9.7% to 11,965

For the month of January:

• Median Sales Price increased 12.4% to $179,850
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
• Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

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

With the first days of February under our belts, it’s safe to say that housing has managed to weather the heart of winter with little issue. Although 2014 activity may appear sluggish compared to gangbuster 2013, housing has stabilized and should continue to find moderate footing. Look for some signs of inventory and sales activity thawing, but keep your jacket handy as activity always varies by location and segment.

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

• New Listings decreased 3.0% to 1,193
• Pending Sales decreased 8.8% to 794
• Inventory decreased 10.2% to 11,809

For the month of January:

• Median Sales Price increased 12.4% to $179,850
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
• Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

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

While the housing market may have completed most of its backflips and jaw-dropping acrobatics, it is now showcasing steady knees and good traction. That may mean fewer riskier tricks on the half-pipe but more endurance and stability over the long haul. After several years of uncertainty followed by grueling rehabilitation, steadier performance that matches expectation resonates well with both current and prospective homeowners.

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

• New Listings decreased 16.9% to 934
• Pending Sales decreased 9.4% to 788
• Inventory decreased 9.5% to 11,936

For the month of January:

• Median Sales Price increased 12.4% to $179,900
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
• Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

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

Optimistic housing start stats encourage rumors that 2014 should be another year of recovering. Activity may not be volatile enough to garner bold headlines, which suits residential real estate markets just fine. The steady-as-she-goes pace and quietly consistent good news should bring out a few more previously underwater sellers to list their homes. Keep an eye out for fresh inventory and keen interest from hungry buyers.

In the Twin Cities region, for the week ending January 25:

• New Listings decreased 11.9% to 914
• Pending Sales decreased 13.0% to 663
• Inventory decreased 8.6% to 12,050

For the month of December:

• Median Sales Price increased 13.1% to $190,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 1.0% to 94.7%
• Months Supply of Inventory decreased 15.6% to 2.7

All comparisons are to 2013

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