For Week Ending June 29, 2019

The summer selling season is progressing with plenty of buying and selling activity thus far, thanks to a healthy economy that has consumers willing to spend their hard-earned money on the things they desire, even if it’s more expensive than it was a few years ago. This has proven to be true in several sectors, whether retail, travel or even housing, the most expensive purchase most people will ever make in their lives.

In the Twin Cities region, for the week ending June 29:

• New Listings increased 0.4% to 1,878
• Pending Sales decreased 5.0% to 1,498
• Inventory decreased 0.3% to 12,083

For the month of May:

• Median Sales Price increased 5.2% to $285,000
• Days on Market decreased 4.3% to 45
• Percent of Original List Price Received decreased 0.2% to 100.0%
• Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending June 22, 2019

Persistently low mortgage rates and slower price increases have combined with economic growth, low unemployment, wage improvement and consumer confidence to keep home buyers in the market, despite insufficient supply. Builders have not made enough new homes for several years, and, thus, national housing inventory is extremely tight. The vacancy rate for owner-occupied homes in 2018 was the lowest since 1995. If the economy begins to slow, this situation is unlikely to improve.

In the Twin Cities region, for the week ending June 22:

• New Listings increased 1.9% to 2,028
• Pending Sales increased 1.2% to 1,494
• Inventory increased 1.1% to 12,008

For the month of May:

• Median Sales Price increased 5.2% to $285,000
• Days on Market decreased 4.3% to 45
• Percent of Original List Price Received decreased 0.2% to 100.0%
• Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending June 15, 2019

As anticipated, the Federal Reserve did not change the target range for the federal funds rate (currently set at 2.25% to 2.5%) during their most recent meeting, but the door was left open for a possible rate reduction in 2019 following a string of increases over the last several years. Although the economy is still performing well due to low unemployment and solid retail sales, trade tensions, slowed manufacturing and meek business investments have created uncertainty.

In the Twin Cities region, for the week ending June 15:

• New Listings remained flat at 2,069
• Pending Sales decreased 2.0% to 1,463
• Inventory increased 1.0% to 11,687

For the month of May:

• Median Sales Price increased 5.2% to $285,000
• Days on Market decreased 4.3% to 45
• Percent of Original List Price Received decreased 0.2% to 100.0%
• Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending September 16, 2017

According to the National Association of Home Builders, there is a rising demand in the new-home market spurred on by ongoing job and economic growth, the continuation of attractive mortgage rates and increased consumer confidence. And there does appear to be a notable increase in building or announced building projects around the country. Builder confidence tends to equate with more construction starts, which would be welcome news in an era of low inventory.

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

• New Listings decreased 5.7% to 1,536
• Pending Sales decreased 7.1% to 1,084
• Inventory decreased 16.5% to 12,740

For the month of August:

• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

For Week Ending September 9, 2017

For several years, residential real estate markets across the country were relatively similar except for a few pockets of extreme price increases in the west and a few areas of slower post-recession recovery in the east. Regional market diversion is becoming more common. Natural disasters play a part, as do factors such as the proclivities and incomes of a younger buyer pool.

In the Twin Cities region, for the week ending September 9:

• New Listings decreased 3.1% to 1,690
• Pending Sales increased 2.7% to 1,036
• Inventory decreased 16.5% to 12,587

For the month of August:

• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

For Week Ending September 2, 2017

Market trends have remained steady for the last couple of years, which has allowed residential real estate to flourish in terms of sales activity and buyer demand. Even when total sales are not measuring forward in year-over-year comparisons, it is evident that the market is responding positively to wider economic indicators. Higher prices, fewer days on market and lower months of supply are all usual indicators of healthy activity.

In the Twin Cities region, for the week ending September 2:

• New Listings decreased 2.3% to 1,306
• Pending Sales decreased 4.3% to 1,145
• Inventory decreased 16.5% to 12,852

For the month of July:

• Median Sales Price increased 5.6% to $251,650
• Days on Market decreased 16.4% to 46
• Percent of Original List Price Received increased 0.8% to 99.1%
• Months Supply of Inventory decreased 16.1% to 2.6

All comparisons are to 2016

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

For Week Ending August 26, 2017

Conversationally speaking, it has been a busy and exciting summer for residential real estate. Much has been said about low supply, higher prices and speedy sales, but the truth of the matter is that buyers are snatching up desirable homes no matter the trends. Good transactions are occurring with smart lending practices. Although more inventory would be useful, the market is finding a way to succeed.

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

• New Listings increased 3.7% to 1,499
• Pending Sales decreased 1.3% to 1,227
• Inventory decreased 16.4% to 13,010

For the month of July:

• Median Sales Price increased 5.6% to $251,650
• Days on Market decreased 16.4% to 46
• Percent of Original List Price Received increased 0.8% to 99.1%
• Months Supply of Inventory decreased 16.1% to 2.6

All comparisons are to 2016

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

For Week Ending August 19, 2017

With each passing August day, fewer households with school-aged children are willing to embark upon a big move for fear of unsettling kids from the important routines that lay the groundwork for a good education. But savvy sellers and buyers know that there are good deals to be made in August and well into the school months, as household formations take on many shapes and sizes.

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

• New Listings increased 3.0% to 1,618
• Pending Sales decreased 3.8% to 1,244
• Inventory decreased 16.2% to 12,733

For the month of July:

• Median Sales Price increased 5.9% to $254,000
• Days on Market decreased 16.7% to 45
• Percent of Original List Price Received increased 0.8% to 99.2%
• Months Supply of Inventory decreased 19.4% to 2.5

All comparisons are to 2016

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

For Week Ending August 12, 2017

The prevailing trends have continued to prevail through the summer, which has not really been a surprise. There have not been any jolting changes in the economy that would affect residential real estate. This includes steady news for factors such as wage growth, unemployment, new construction and mortgage rates. Every locality has its unique challenges, but housing as a whole is performing as expected.

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

• New Listings increased 1.2% to 1,668
• Pending Sales decreased 8.0% to 1,195
• Inventory decreased 17.1% to 12,576

For the month of July:

• Median Sales Price increased 5.9% to $254,000
• Days on Market decreased 16.7% to 45
• Percent of Original List Price Received increased 0.8% to 99.2%
• Months Supply of Inventory decreased 19.4% to 2.5

All comparisons are to 2016

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