For Week Ending September 26, 2015

The national economy continues to show reason for optimism, and the residential real estate market has taken the cue to react positively. As mortgage rates hover along the lowest marks seen in decades and affordability remains relatively high, more people have would seemingly have an opportunity to buy a home. Sales figures have been showing that buyers are still active, but inventory figures are starting to show that sellers are, as a unit, lagging and possibly waiting until next spring to get into the action.

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

• New Listings decreased 2.7% to 1,390
• Pending Sales increased 9.0% to 1,021
• Inventory decreased 14.6% to 16,529

For the month of August:

• Median Sales Price increased 2.7% to $224,900
• Days on Market decreased 5.9% to 64
• Percent of Original List Price Received increased 0.8% to 97.1%
• Months Supply of Inventory decreased 21.7% to 3.6

All comparisons are to 2014

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