Real Estate Update
December 2, 2012
Home buyers entered more contracts and homeowners listed more properties than during the same week of 2011. As a whole, 2012 is shaping up to be quite the pivotal year for housing. With 2013 right around the corner, the smart money is monitoring seller concessions, market times, absorption rates and, of course, home prices. The genius money is watching foreclosure listing and sales volumes, delinquency rates and showing activity.
In the Twin Cities region, for the week ending November 24:
• New Listings increased 0.7% to 607
• Pending Sales increased 12.8% to 608
• Inventory decreased 28.8% to 14,546
For the month of October:
• Median Sales Price increased 14.8% to $175,000
• Days on Market decreased 25.2% to 103
• Percent of Original List Price Received increased 3.5% to 94.5%
• Months Supply of Inventory decreased 39.6% to 3.8
As reported by the Minneapolis Area Association of Realtors
Ready to buy or sell a home? Call the sister team.
We’d love to help you move forward.
Ellen and Kate Walsh
Coldwell Banker Burnet