Category Archives: Weekly Report

For Week Ending December 26, 2015

As another year winds down, we’ll be looking toward 2016 with increased interest in changes in trend lines. But as we’ve seen over the last several months, and now beginning to become multiple years, the trends have been pretty steady. The prevailing thought by national market watchers is that 2016 will largely mirror 2015 but at a more even pace. The continuation of Fed rate increases are expected to keep things in check, but the funny thing about anticipating those increases is that it tends to inspire more activity. Happy New Year!

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

• New Listings increased 0.7% to 271
• Pending Sales increased 39.6% to 483
• Inventory decreased 19.3% to 11,519

For the month of November:

• Median Sales Price increased 6.8% to $219,040
• Days on Market decreased 7.6% to 73
• Percent of Original List Price Received increased 1.2% to 95.8%
• Months Supply of Inventory decreased 28.2% to 2.8

All comparisons are to 2014

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

For Week Ending December 19, 2015

A week after the Federal Reserve raised short-term interest rates to .25 percent to .5 percent, the average on a 30-year fixed mortgage dropped .01 percent from the previous week to 3.96 percent, proving for now that the Fed’s effect on long-term rates is indirect when inflation is low, among other factors. Some even believe that rate hikes mean much more to Wall Street observers than home buyers. Not everyone agrees with this assessment, but residential real estate is still certainly spinning on an active axis as we work our way to a new year.

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

• New Listings increased 1.3% to 601
• Pending Sales increased 17.2% to 799
• Inventory decreased 18.4% to 12,105

For the month of November:

• Median Sales Price increased 6.8% to $219,040
• Days on Market decreased 7.6% to 73
• Percent of Original List Price Received increased 1.2% to 95.8%
• Months Supply of Inventory decreased 28.2% to 2.8

All comparisons are to 2014

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

For Week Ending December 12, 2015

This year, it is projected that 46.1 percent of holiday shopping will be done online, up from 44.4 percent last year. As American consumers continue to change the way they buy things, we’re already seeing massive upheaval in long-entrenched ways of going about this thing called life. Fewer people are driving, or even buying cars for that matter, which allows sharing-economy companies like Uber and Zipcar to exist. Fewer people are going to department stores and malls, which allows home-shipping giants like Amazon to exist. One day soon, even home purchases will happen in a vastly different way. Are you ready for what’s next?

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

• New Listings increased 8.0% to 715
• Pending Sales increased 16.8% to 777
• Inventory decreased 17.9% to 12,536

For the month of November:

• Median Sales Price increased 6.9% to $219,080
• Days on Market decreased 7.6% to 73
• Percent of Original List Price Received increased 1.2% to 95.8%
• Months Supply of Inventory decreased 28.2% to 2.8

All comparisons are to 2014

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

For Week Ending December 5, 2015

Low unemployment and cheap fuel are conspiring to help people spend money this holiday season, but not necessarily more than last year at this time. Early analysis of year-end shopping habits indicates a fairly average amount of purchases being made across the board, with items like clothing and electronics doing well, while automobiles and home goods are in mild sales decline. It all adds up to a mostly fiscally sound bunch of Americans who will not be coaxed into purchasing more than they want or can pay for. We have come a long way since the Great Recession, and the housing market is benefiting from smarter spending.

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

• New Listings increased 3.2% to 875
• Pending Sales increased 10.8% to 903
• Inventory decreased 16.7% to 13,097

For the month of November:

• Median Sales Price increased 7.3% to $219,900
• Days on Market decreased 7.6% to 73
• Percent of Original List Price Received increased 1.3% to 95.9%
• Months Supply of Inventory decreased 28.2% to 2.8

All comparisons are to 2014

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

For Week Ending November 28, 2015

The real estate market tends to hit its slowest moments right around the Thanksgiving holiday, continuing through to the end of the year before bouncing back with renewed resolutionary enthusiasm. The trends aren’t expected to change too much in year-over-year comparisons to what we have seen over the last several weeks. For this week, listings and sales are up.

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

• New Listings increased 15.0% to 538
• Pending Sales increased 15.7% to 635
• Inventory decreased 16.7% to 13,698

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.

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.

For Week Ending November 14, 2015

For the next several weeks, activity will be lower than it is during the rest of the year but not in complete hibernation. The quietest weeks of the season in residential real estate sales are traditionally from Thanksgiving to New Year’s Day. Generally, we see fewer new listings, less inventory and fewer sales than at any other time during the year. That said, higher year-over-year sales prices are common across the country thanks to things like high demand, low inventory and exceptional interest rates.

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

• New Listings increased 19.5% to 1,024
• Pending Sales increased 22.0% to 894
• Inventory decreased 16.5% to 14,606

For the month of October:

• Median Sales Price increased 4.2% to $216,500
• Days on Market decreased 2.8% to 70
• Percent of Original List Price Received increased 1.1% to 96.2%
• 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.

For Week Ending November 7, 2015

In a continually improving economy, what we might expect to happen is happening in the housing market. Sales and prices are generally up in year- over-year comparisons, and new listings are replenishing the market at a fairly steady clip. More sellers are still encouraged to enter the fray, as lower inventory continues to remain a point of some concern.

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

• New Listings increased 7.5% to 1,183
• Pending Sales increased 10.7% to 907
• Inventory decreased 16.2% to 14,850

For the month of October:

• Median Sales Price increased 4.4% to $217,000
• Days on Market decreased 2.8% to 70
• Percent of Original List Price Received increased 1.1% to 96.2%
• 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.

For Week Ending October 31, 2015

Softer September sales continue to be a stout topic for stats analysis. Rental prices are not so soft, however, and across many markets, rising prices are turning heads. More first-time homebuyers may jump at the chance to invest in their own homes. Much of the evidence still points to recovering market health.

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

• New Listings increased 1.9% to 1,096
• Pending Sales increased 0.6% to 933
• Inventory decreased 16.2% to 15,440

For the month of October:

• Median Sales Price increased 4.9% to $218,000
• Days on Market decreased 2.8% to 70
• Percent of Original List Price Received increased 1.1% to 96.2%
• 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.

For Week Ending October 24, 2015

Data analysis from September national numbers revealed that new home sales underperformed slightly from what was originally expected. Some say this indicates market cooling, but with October giving way to November, it means we will soon have another month of sales to prove or disprove naysayers.

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

• New Listings decreased 2.5% to 1,233
• Pending Sales increased 10.7% to 934
• Inventory decreased 15.7% to 15,650

For the month of September:

• Median Sales Price increased 8.1% to $221,650
• 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 23.9% to 3.5

All comparisons are to 2014

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