Real Estate Update

Weekly Real Estate Update
August 6, 2012

For decades now, the real estate industry has been both humbled and invigorated by the strong and direct relationship between the labor and housing markets. As goes the economy, seemingly so goes housing. That relationship was especially clear after the 2007 recession. The economy added 163,000 jobs in July, the highest figure since February. Our economy is growing, but not as quickly as many would like. Meanwhile, inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years, in many cases.

In the Twin Cities region, for the week ending July 28:
• New Listings increased 8.3% to 1,430
• Pending Sales increased 20.9% to 1,149
• Inventory decreased 30.5% to 17,103

For the month of June:
• Median Sales Price increased 10.2% to $178,600
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.1% to 95.1%
• Months Supply of Inventory decreased 42.6% to 4.6

Click on any graph below to enlarge it.

As reported by the Minneapolis Area Association of Realtors.

For additional information on the market
or buying and selling a home, contact us.
We’re friendly, fun and professional real estate agents!

Ellen Walsh

Kate Walsh




City Specific Market Updates: December + YTD

Learn About Your City and Neighborhood

December and Year-to-Date Figures

The following reports provide updated information on the Twin Cities real estate market by specific cities and neighborhoods. Additional cities and neighborhoods are available upon request.

Minneapolis Report
Covering the areas of: Southwest Minneapolis, Nokomis, Longfellow, Uptown-Lakes, Downtown Minneapolis, Northeast, University Area, Powderhorn, Philips, North Minneapolis, and Camden.

St. Louis Park Report

Edina Report

Minnetonka Report

Hopkins Report

Wayzata Report

Lake Minnetonka Area Report
Covering the areas of: Deephaven, Excelsior, Greenwood, Long Lake, Minnetonka Beach, Wayzata, Woodland, Shorewood, Orono, Mound, Minnetrista, Spring Park, Tonka Bay, and St. Bonifacius.

Golden Valley Report

Twin Cities / 13-County Metropolitan Area Report

For additional reports not listed here,
please contact me and I’ll be happy to send it to you.

Kate Walsh