Real Estate Weekly Update
January 31, 2011
Twin Cities home buyers braved the arctic air to sign 533 purchase agreements during the week ending January 22. Although that’s 4.5 percent fewer than the same week in 2010, it’s better than the 9.3 percent decline we’ve seen over the last three months.
Sellers brought 1,195 new properties online for the week, a 21.5 percent drop compared to year-ago figures. The 3-month average shows a more subtle 4.9 percent decline.
The number of Active Listings for sale was up 10.6 percent compared to the same week last year, giving buyers 22,810 properties to choose from and sellers 22,809 properties to compete with.
Now if we can just get this snow to stop during our rush hours and weekends.
As reported by the Minneapolis Area Association of Realtors.