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.