For Week Ending June 27, 2015

Most markets in the U.S. should still be seeing that nice steady buzz of new listings and closed sales. The most opportune time of the year to get residential real estate business closed continues into the summer months. There will be an expected drop in activity around the Independence Day festivities and scheduled summer vacations, but it would not be shocking to see heightened activity in July and August in front of possible rate hikes later in the year.

In the Twin Cities region, for the week ending June 27:

  • New Listings increased 1.3% to 1,861
  • Pending Sales increased 20.0% to 1,462
  • Inventory decreased 7.3% to 16,998

For the month of May:

  • Median Sales Price increased 6.6% to $223,950
  • Days on Market decreased 5.0% to 76
  • Percent of Original List Price Received increased 0.7% to 97.5%
  • Months Supply of Inventory decreased 9.8% to 3.7

All comparisons are to 2014

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