Category Archives: Weekly Report

Some say the big story of 2014 will be higher interest rates, some say it will be more inventory while others say it will be less foreclosure activity. The truth is likely to be an amalgamation of all of the above. The year 2013 was marked by variable but steady job growth, a good leading indicator of market activity. While consumers may be uneasy about higher rates, economic improvements can potentially offset any negative impact on affordability. The seasoned agent will recall a time when plenty of consumers were vying for properties when rates were double and triple what they are now.

In the Twin Cities region, for the week ending January 18:

• New Listings decreased 8.3% to 989
• Pending Sales decreased 24.8% to 591
• Inventory decreased 9.5% to 11,918

For the month of December:

• Median Sales Price increased 13.1% to $190,050
• 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.

The years of 2012 and 2013 are going to be noted as a period of recovery for housing, and 2014 should prove to be more of the same but perhaps with not as much force. As we begin to look for signs of a stabilized residential real estate market, we may see fewer sales than in recent years, but these sales should be of a higher quality in that they will have been made with stronger lending standards to people with stronger jobs in a stronger economy. Even this early in the year, we should begin to see signs of new inventory coming onto the market with a more balanced months’ supply of inventory and well-paced market times.

In the Twin Cities region, for the week ending January 11:

• New Listings decreased 14.6% to 958
• Pending Sales decreased 19.5% to 556
• Inventory decreased 9.8% to 11,810

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.

It’s the time of year when housing statistics take a back seat to the resolve associated with a fresh calendar year. Diligent tracking of new listings and pending sales counts tends to give way to weight loss plans and personal financial planning. And you know what? That’s just great! Spending some time focusing on self just may help make 2014 a banner year to match 2013. But if you want to take a quick glance, the data is here for your perusal. Here’s to another great year!

In the Twin Cities region, for the week ending January 4:

• New Listings decreased 18.7% to 678
• Pending Sales decreased 12.4% to 507
• Inventory decreased 4.9% to 12,368

For the month of December:

• Median Sales Price increased 13.7% to $191,000
• Days on Market decreased 20.4% to 86
• Percent of Original List Price Received increased 0.9% to 94.6%
• 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.

Inevitably, most housing markets tend to wind down at the end of each year. There are gifts to purchase, holiday travels to plan and kids to care for during winter break. This isn’t the case for all buyers and sellers, of course, but there are enough who follow this traditional path to create a trend view that shows creatures not stirring. Be prepared for at least two weeks of lessened activity before things pick up again in January.

In the Twin Cities region, for the week ending December 28:

• New Listings decreased 14.5% to 307
• Pending Sales decreased 7.8% to 400
• Inventory decreased 9.1% to 12,707

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 10.8% to 3.3

All comparisons are to 2013

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

Gains in construction activity and job growth have made the Fed confident that moderate bond tapering won’t rock the resilient real estate market. Holiday happenings have bolstered an already healthy economy. And though winter vacation jubilee may accentuate seasonally lazy home sales, most local markets should show cozy year-over-year comparisons.

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

• New Listings decreased 15.3% to 558
• Pending Sales decreased 11.0% to 689
• Inventory decreased 7.3% to 13,283

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
Months Supply of Inventory decreased 11.1% to 3.2

All comparisons are to 2012

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

A plethora of economic data was recently released, and it shows that exports rose
to their highest level ever while job growth numbers have surpassed even the most hopeful Wall Street expectations. But good news isn’t always good news, since this means that the Fed is going to begin tapering its historic bond-buying activity as the economy heals. Stocks may take a dip. But, with some luck, the demand-side effect of the impending rate increase could be offset by stronger economic fundamentals that should keep the housing market humming along.

In the Twin Cities region, for the week ending December 14:

• New Listings decreased 1.9% to 759
• Pending Sales decreased 11.1% to 656
• Inventory decreased 6.5% to 13,728

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 11.1% to 3.2

All comparisons are to 2012

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

The first week in December this year was filled with Black Friday and Cyber
Monday deals – this means more people were clamoring in line at 2:00 a.m.
waiting for a Suzie-Talks-A-Lot than were attending open houses. Seasonal trends
should be evident in a slight market slowdown, but year-over-year comparisons
will still brighten any burgeoning bah-humbuggers.

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

• New Listings decreased 5.7% to 887
• Pending Sales increased 0.9% to 751
• Inventory decreased 5.6% to 14,043

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 11.1% to 3.2

All comparisons are to 2012

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

The calendar can sometimes have just as profound an effect on housing data as
supply and demand. The 2013 Thanksgiving holiday was a week later than in
2012, causing some peculiar shifts in activity. This serves as a good reminder to
watch for calendar oddities just as much as you do economic indicators. Even so,
aside from family time and tryptophan, buyers and sellers had a lot to be grateful
for this Thanksgiving. Buyers still live in a time of great affordability, and sellers
should be thankful for shorter market times, higher prices and less competition.

In the Twin Cities region, for the week ending November 30:

• New Listings decreased 47.0% to 540
• Pending Sales decreased 38.5% to 579
• Inventory decreased 4.5% to 14,582

For the month of November:

• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 11.1% to 3.2

All comparisons are to 2012

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

As the end of the year approaches, market futurists will either put on their overly cheery, poinsettia-colored glasses or turn into a bunch of dreary Nostradamus Nellys. The wise analyst will tune out extremes and embrace seasonally appropriate slowdowns as a sign of normal market activity while looking with anticipation to what will likely be continued moderate recovery in 2014. Watch for light gains in inventory, quieter pending sales activity and more sedate market times.

In the Twin Cities region, for the week ending November 23:

• New Listings increased 46.6% to 893
• Pending Sales increased 42.8% to 841
• Inventory decreased 3.6% to 15,008

For the month of October:

• Median Sales Price increased 11.4% to $194,900
• Days on Market decreased 27.2% to 75
• Percent of Original List Price Received increased 1.4% to 95.8%
• Months Supply of Inventory decreased 10.0% to 3.6

All comparisons are to 2012

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

This week, and through the end of the year, you might be watching for much-needed inventory gains that will not arrive due to traditional end-of-year lulls in the marketplace related to holidays and/or colder weather. Nobody wants to sell at the bottom. In general, inventory pools are up in year-over-year comparisons in many areas, suggestive of seller confidence with recent price gains. Overall recovery is unlikely to stall. The pace of price gains and bidding wars may ease, but that’s not necessarily a bad thing. Just ask any prospective home buyer.

In the Twin Cities region, for the week ending November 16:

• New Listings decreased 4.2% to 1,003
• Pending Sales decreased 7.3% to 758
• Inventory decreased 3.2% to 15,318

For the month of October:

• Median Sales Price increased 11.4% to $194,900
• Days on Market decreased 27.2% to 75
• Percent of Original List Price Received increased 1.4% to 95.8%
• Months Supply of Inventory decreased 12.5% to 3.5

All comparisons are to 2012

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