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Real Estate Update
December 17, 2012

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The chase to 2013 is on, and we are pleased by the prospects ahead. Given the upward progress of the 2012 housing market, many homeowners may find that their properties will be worth more next year. That’s a nice change of pace for potential sellers, and for residential real estate as a whole, and is a direct result of widespread improvements in the marketplace. Most of the positive trends we have seen in 2012 should persist into the new year. Let’s take a peek at what’s happening locally today. All comparisons are to 2011.

In the Twin Cities region, for the week ending December 8:
• New Listings increased 3.0% to 942
• Pending Sales increased 12.6% to 788
• Inventory decreased 28.8% to 13,832

For the month of November:
• Median Sales Price increased 16.2% to $172,000
• Days on Market decreased 26.2% to 103
• Percent of Original List Price Received increased 3.6% to 94.2%
• Months Supply of Inventory decreased 40.0% to 3.4

As reported by the Minneapolis Area Association of Realtor

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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
612.220.3304
emwalsh@cbburnet.com

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Housing Supply Overview
November 2012

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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

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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
612.220.3304
emwalsh@cbburnet.com

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Weekly Real Estate Update
October 9, 2012

Some say that housing and the economy are woven together into a single garment of destiny. Let’s review recent national economic data: a good September non-farm payroll report marking 31 consecutive months of private job growth, the unemployment rate falling to 7.8 percent (a 44-month low), a widely positive S&P/Case-Shiller home price report, and mortgage rates averaging close to 3.4 percent. When you combine the above trends with less housing supply and strong home sales numbers, you can start to see just what’s driving this recovery. Here’s what transpired locally.

In the Twin Cities region, for the week ending September 29:
• New Listings increased 6.2% to 1,314
• Pending Sales increased 15.5% to 1,000
• Inventory decreased 29.6% to 16,261

For the month of September:
• Median Sales Price increased 12.3% to $174,000
• Days on Market decreased 28.7% to 101
• Percent of Original List Price Received increased 4.1% to 94.8%
• Months Supply of Inventory decreased 40.9% to 4.0

As reported by the Minneapolis Area Association of Realtors

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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
612.220.3304
emwalsh@cbburnet.com

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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
emwalsh@cbburnet.com
612.220.3304

Kate Walsh
info@designhouse9.com
612.220.3309

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An interesting read on real estate:

Calculated Risk: The Housing Bottom is Here

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Housing Supply Overview
October 2011

What’s driving home purchases nowadays? Record low mortgage rates,
affordable prices and plenty of options to choose from. For the
12-month period spanning November 2010 through October 2011,
Pending Sales in the Twin Cities region were up 8.5 percent overall. The
price range with the largest gain in sales was the $120,000 and under
range, where they increased 50.0 percent.

The overall Median Sales Price was down 8.9 percent to $154,900. The
property type with the smallest price decline was the Single-Family
segment, where prices decreased 8.1 percent to $170,000. The price
range that tended to sell the quickest was the $190,001 to $250,000 range
at 138 days; the price range that tended to sell the slowest was the
$1,000,001 and above range at 253 days.

Market-wide, inventory levels were down 22.4 percent. The property type
that lost the least inventory was the Single-Family segment, where it
decreased 19.5 percent. That amounts to 6.3 months supply for Single-
Family homes and 5.2 months supply for Townhomes and Twinhomes.

Click on graph to enlarge.


As reported by the Minneapolis Area Association of Realtors
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One Great Idea Made Reality

KHAN ACADEMY

I just learned about Khan Academy, a non-profit organization on a mission. Their goal is to change education for the better. How are they doing this? By providing world-class education to anyone anywhere for free.

You can be a student, teacher, home-schooler, principal, adult returning to the classroom after 20 years, or someone who just loves to learn. The Khan Academy’s materials and resources are available to all completely free of charge.

Can you learn things related to real estate and home ownership? Yes! Check out the Credit Crisis section that discusses the Housing Conundrum, the Housing Price Conundrum and more. See the Finance section for information about Renting vs. Buying a home and home equity loans.

Back to the fact that this is education for anyone anywhere. Students can make use of the extensive video library, practice exercises, and assessments from any computer with access to the web. Coaches, parents, and teachers have unprecedented visibility into what their students are learning and doing on the Khan Academy site.

Unemployed? Looking to make a job change? Returning to work after an absence? Check out the Brain Teasers section which is reported to be useful for many job interviews.

This is just a small sampling of what you’ll find at Khan Academy. There is currently over 2100 educational videos available. Viewership stands at about 24,000,000. See why Bill Gates is a fan and the Bill and Melinda Gates Foundation is helping to support this endeavor. Visit the Kahn Academy website (link below) to find out more about how these lessons are inspiring children (and adults) to learn!

www.khanacademy.org

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