Real Estate Update

Housing Supply Overview
November 2012

HSO Art Large
There was a lot to be thankful for this November. Home buyers can be thankful for ultra-low mortgage rates while sellers can be thankful for rising prices and strong demand. For the twelve-month period spanning December 2011 through November 2012, Pending Sales in the Twin Cities region were up 18.8 percent overall. The price range with the largest gain in sales was the $350,001 to $500,000 range, where they increased 41.7 percent.

The overall Median Sales Price was up 9.3 percent to $165,000. The property type with the largest price gain was the Condo segment, where prices increased 9.4 percent to $105,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 109 days; the
price range that tended to sell the slowest was the $1,000,001 and Above range at 234 days.

Market-wide, inventory levels were down 29.4 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 26.3 percent. That amounts to 3.5 months supply for Single- Family Detached homes.

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



One Minute Holiday

Photo of the Day
November 23, 2011

Tomorrow is the Thanksgiving holiday here in the United States. Many people will be traveling. Others will be staying put and gathering with family and/or friends for the day. Regardless of where you’ll be, I offer this photograph as an opportunity to have a peaceful minute of beauty and reflection.

Thanksgiving is a day when people often think or discuss what they’re grateful for in life. An article in the The New York Times yesterday offered this on the topic:

Cultivating an “attitude of gratitude” has been linked to better health, sounder sleep, less anxiety and depression, higher long-term satisfaction with life and kinder behavior toward others, including romantic partners.

That’s plenty of reasons to be grateful. I’m grateful you’re reading this post and taking a one minute holiday. Let’s spread the heath benefits of gratitude! Share what you’re grateful for by using the Comment link below.