Home. Design. The Beauty of Both.
SOLD
Three Bedrooms ~ Two Baths
Main Floor Master ~ Open Floor Plan ~ Hardwood Floors
Newer Roof and Mechanicals ~ Walkout Lower Level
Double Attached Garage ~ Close to Golf Courses ~ 9.55 Acres
Approximately 2400 Finished Square Feet ~ Taxes: $4208
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Over the course of the year, we’ve cleverly devised new tactics each week to communicate just how far the market has come. This week is no exception. Most level-headed housing advocates agree that lower residential vacancy rates are a good thing. Well, chalk one up for level-headed housing advocates, because Reuters just reported that the U.S. residential vacancy rate fell to 1.9 percent in the third quarter. That’s the lowest level in seven years. It’s just the latest installment of overwhelming bullish housing news.
In the Twin Cities region, for the week ending October 27:
• New Listings decreased 3.0% to 1,037
• Pending Sales increased 11.1% to 914
• Inventory decreased 28.8% to 15,700
For the month of September:
• Median Sales Price increased 12.7% to $174,625
• Days on Market decreased 28.5% to 101
• Percent of Original List Price Received increased 4.1% to 94.8%
• Months Supply of Inventory decreased 38.8% to 4.1
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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Housing pessimism is as out of fashion nowadays as bell bottoms and shoulder pads. Those who are still fishing for that elusive “market bottom” have likely missed it in most areas. The major story continues to be tightened inventory and high buyer turnout. Homes should be selling faster and for closer to list price – or even above in the hottest neighborhoods. Continue to monitor key differences between the foreclosure and traditional segments as well as variability between the single-family and condo markets.
In the Twin Cities region, for the week ending October 13:
• New Listings increased 7.3% to 1,252
• Pending Sales increased 26.7% to 954
• Inventory decreased 28.8% to 16,017
For the month of September:
• Median Sales Price increased 12.6% to $174,500
• Days on Market decreased 28.4% to 101
• Percent of Original List Price Received increased 4.0% to 94.8%
• Months Supply of Inventory decreased 39.6% to 4.1
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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With October here, 2012 has certainly flown by. The things to be watching for this fall are the same things you’ve likely been watching all year. Changes in sales levels, active listings, market times, seller concessions and, of course, home prices have taken center stage. To showcase just one, home prices may moderate on a month-to-month basis but should continue to demonstrate resiliency in a year-over-year sense. While the economy has been sending some mixed signals lately, one aspect of this recovery remains convincing: housing will be a net contributor.
In the Twin Cities region, for the week ending September 22:
• New Listings decreased 1.1% to 1,295
• Pending Sales increased 22.8% to 1,078
• Inventory decreased 29.4% to 16,428
For the month of August:
• Median Sales Price increased 14.8% to $178,000
• Days on Market decreased 23.9% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 41.1% to 4.2
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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On September 13, the Federal Reserve announced its third round of quantitative easing (QE3). This time, it took the form of $40 billion in mortgage-backed securities (MBS) purchases each month. The goal is to bolster the stock market by diminishing returns on MBSs. This will make equities more attractive, which will provide capital to corporations, who should in turn hire and therefore spur consumer spending. If successful, that job creation and spending will resonate into housing consumption and reinvestment. New jobs fuel housing demand which alleviates underwater homeowners and supports home prices. Here’s how we rounded out the week.
In the Twin Cities region, for the week ending September 15:
• New Listings increased 4.0% to 1,360
• Pending Sales increased 18.4% to 978
• Inventory decreased 29.5% to 16,479
For the month of August:
• Median Sales Price increased 14.8% to $178,000
• Days on Market decreased 23.9% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 41.5% to 4.2
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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Signals. They’re everywhere. From the flow of traffic on Main Street to the movement of electrons inside a microchip, we take our cues from trusted indicators. Recently, housing data has been signaling increased momentum toward recovery. It doesn’t really matter what signals you’re watching either. From new starts, existing sales and prices to market times, seller concessions, and the supply/demand balance, all signals point to healing. That said, it won’t necessarily be quick nor felt evenly across all cities or states.
In the Twin Cities region, for the week ending September 1:
• New Listings decreased 10.1% to 1,171
• Pending Sales increased 13.3% to 1,025
• Inventory decreased 30.0% to 16,676
For the month of August:
• Median Sales Price increased 15.5% to $179,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 42.7% to 4.1
As reported by the Minneapolis Area Association of Realtors
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We are converging upon an interesting wait-and-see season in residential real estate. All year-long, we have witnessed some rather positive year over year decreases in inventory numbers and increases in sales, percent of original list price received at sale and median sales price. After many years of struggling to tread water – and, indeed, often failing to do so – there is hope. With quieter autumnal and winter months looming, we will be giving extra scrutiny to the trend lines in the weeks to come.
In the Twin Cities region, for the week ending August 25:
• New Listings increased 1.3% to 1,282
• Pending Sales increased 19.4% to 1,027
• Inventory decreased 29.9% to 16,785
For the month of July:
• Median Sales Price increased 13.3% to $178,500
• Days on Market decreased 27.8% to 105
• Percent of Original List Price Received increased 3.6% to 95.0%
• Months Supply of Inventory decreased 42.1% to 4.4
As reported by the Minneapolis Area Association of Realtors
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Do you hear that? It’s the sound of carts shifting through the back-to-school aisles, filling quickly with notebooks and pencils and glue. It’s the sound of teenagers shuffling through dorms and down storied lanes on their first college orientation. It’s the sound of young professionals readying themselves for their first big job, freshly tailored. It’s the sound of a family preparing for the leap from the overcrowded apartment to the “starter” home that will see their first child into high school. There’s a lot of activity taking place as we move towards the fall season. The housing market continues to be active as well.
In the Twin Cities region, for the week ending August 11:
• New Listings increased 2.0% to 1,387
• Pending Sales increased 31.2% to 1,149
• Inventory decreased 29.6% to 16,982
For the month of July:
• Median Sales Price increased 13.7% to $179,000
• Days on Market decreased 27.8% to 106
• Percent of Original List Price Received increased 3.6% to 95.0%
• Months Supply of Inventory decreased 42.8% to 4.3
Statistics provided by the Minneapolis Area Association of Realtors
For additional market information, contact us:
Ellen Walsh
612.220.3304
emwalsh@cbburnet.com
Kate Walsh
612.220.3309
info@designhouse9.com
Coldwell Banker Burnet
Minneapolis Lakes Office–On the shore of Lake Calhoun
Minneapolis MN 55416
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Let’s admit it: It’s been nice to have a year of positive headlines in the residential real estate industry. There have been more sales for more money in most markets across the country, and the foreclosure situation, although not entirely in the rearview mirror, has abated. We’re now entering the months of 2012 that should offer a true test of the lasting power of this buyer-seller tryst. A drop off in buyer and seller activity might be expected after so many months of bliss, but the feeling remains that the market will survive beyond the honeymoon phase.
In the Twin Cities region, for the week ending August 4:
• New Listings decreased 0.1% to 1,433
• Pending Sales increased 20.4% to 1,129
• Inventory decreased 29.6% to 17,085
For the month of July:
• Median Sales Price increased 14.2% to $179,900
• Days on Market decreased 27.8% to 105
• Percent of Original List Price Received increased 3.6% to 95.0%
• Months Supply of Inventory decreased 43.4% to 4.3
As reported by the Minneapolis Area Association of Realtors
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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.
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| It’s been a relatively pleasant year for the business of residential real estate. Case in point, the June 2012 NAHB/Wells Fargo Housing Market Index (HMI) rose to its highest level since May 2007. And for the first time since 2005, housing is on track for being a net positive contributor to national GDP in 2012. Speaking on behalf of America, it’s about time. Throw in some real price gains, and you can expect holdout buyers to be less afraid of buying and sellers to be less afraid of listing.In the Twin Cities region, for the week ending July 14:
• New Listings increased 6.2% to 1,536 For the month of June: • Median Sales Price increased 10.4% to $179,000 As reported by the Minneapolis Area Association of Realtors. ### . |
With the second quarter now in the books, seasonal peaks and valleys should start to become apparent. Even if activity begins to slow for the remainder of 2012, gains are still likely when compared to the same time last year. Housing demand has been strong, supply levels have been falling and prices are turning a corner in many local markets. Keep a watchful eye toward market times, percent of list price received at sale and months of supply.
In the Twin Cities region, for the week ending July 7:
• New Listings decreased 21.9% to 970
• Pending Sales increased 24.6% to 892
• Inventory decreased 30.8% to 17,134
For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.1%
• Months Supply of Inventory decreased 44.0% to 4.5
As reported by the Minneapolis Area Association of Realtors
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Summer heat waves roll across the north land as election season also heats up. Meanwhile, as the mercury and partisan rhetoric both escalate, residential real estate continues to show signs consistent with market recovery. For the current round of numbers, both buyer and seller activity levels were higher than last year at this time. Buyers have been taking advantage of historic affordability levels for some time, but renewed seller confidence is a more recent development and some would even call it an encouraging omen, as long as supply levels don’t exceed a prior apex.
In the Twin Cities region, for the week ending June 30:
• New Listings increased 0.1% to 1,414
• Pending Sales increased 20.4% to 1,194
• Inventory decreased 31.0% to 17,417
For the month of June:
• Median Sales Price increased 10.4% to $179,000
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.0%
• Months Supply of Inventory decreased 44.7% to 4.4
As reported by the Minneapolis Area Association of Realtors.
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Market metrics are in the midst of seasonal peaks and valleys this time of year. Listings, sales and prices all tend to reach pinnacles on the historical trend line, while market times generally take a dip to annual lows. Summer is historically an exciting time for real estate. Between vacations to see family and friends and the crush of wedding weekends, Americans manage to find the time to buy and sell real estate. The last several years have been rough, no doubt, but an undeniable gleam has returned to the marketplace this year, and summer brings with it a certain extra swoon.
In the Twin Cities region, for the week ending June 16:
• New Listings decreased 3.7% to 1,476
• Pending Sales increased 19.8% to 1,173
• Inventory decreased 31.0% to 17,517
For the month of May:
• Median Sales Price increased 10.5% to $169,000
• Days on Market decreased 19.6% to 125
• Percent of Original List Price Received increased 3.8% to 94.6%
• Months Supply of Inventory decreased 43.9% to 4.6
As reported by the Minneapolis Area Association of Realtors.
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The report card for this week showed higher grades than last year at this time for both buyers and sellers. Activity levels are higher on both sides, which is indicative of recovering confidence in the local market. Prices in certain areas have already turned a corner, and it is not unreasonable to expect a continuation of this trend.
As summer begins to swelter, also keep a watchful eye on active listings, absorption rates, days on market and percent of list price received. Being schooled in these metrics is like having an open book during the final exam.
In the Twin Cities region, for the week ending June 9:
• New Listings increased 0.4% to 1,582
• Pending Sales increased 29.4% to 1,231
• Inventory decreased 31.0% to 17,540
For the month of May:
• Median Sales Price increased 10.5% to $169,000
• Days on Market decreased 19.6% to 125
• Percent of Original List Price Received increased 3.8% to 94.6%
• Months Supply of Inventory decreased 44.7% to 4.6
Click on graphs/images below to view larger.
As reported by the Minneapolis Area Association of Realtors.
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Although the latest jobs report was less than exciting for those waiting for economic recovery to cast a warming glow all across the land, the residential real estate market continued to jog along at a nice pace, as though earbuds were drowning out the din of negative energies trying to dissuade healthy activity. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep watching inventory and sales activity throughout the summer to see if this runner’s high will continue into fall.
In the Twin Cities region, for the week ending May 26:
• New Listings decreased 8.5% to 1,387
• Pending Sales increased 19.2% to 1,231
• Inventory decreased 29.8% to 17,740
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.2% to 135
• Percent of Original List Price Received increased 3.7% to 93.4%
• Months Supply of Inventory decreased 41.7% to 4.8
As reported by the Minneapolis Area Association of Realtors.
Click on graph to view larger
Click on graph to view larger
Click on graph to view larger
For additional information on the market and for assistance buying and selling a home, contact us:
Coldwell Banker Burnet
Minneapolis Lakes Office
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The tempo in residential housing has remained upbeat through the first five months of 2012. Year-to-date figures begin to sing a compelling tune at this time of year, and the song thus far is that markets are moving back toward balance and home prices are beginning to reflect that stabilization. For the most recent week, buyer activity was higher than year-ago levels while listing activity registered lower. Keep an eye on months supply, seller concessions, market times and foreclosure rates. Multiple offers are back and tentative owners looking to move should take note. It’s okay to sing in public again.
In the Twin Cities region, for the week ending May 19:
• New Listings decreased 9.6% to 1,533
• Pending Sales increased 18.6% to 1,116
• Inventory decreased 29.4% to 17,648
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.2% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.0% to 4.8
Click on graph to view larger image
Click on graph to view larger image
Click on graph to view larger image
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As reported by the Minneapolis Area Association of Realtors.
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Houses are just things. Boxes waiting to be filled. In the hands of caring, nurturing citizens, those simple boxes become homes that create memories and fortify communities for generations.
This month, more than 13,000 REALTORS® rallied at the Washington Monument to preserve the American Dream of homeownership. Some components of the dream are being threatened by budget pressures and market realities. But homeownership is very much alive and well, as more than three out of five residencies are owner-occupied in the U.S. Moreover, buyer demand has been impressive throughout the year. As Franklin D. Roosevelt famously stated: “A nation of homeowners is unconquerable.” Our response in 2012: Fill the box!
In the Twin Cities region, for the week ending May 12:
• New Listings decreased 11.8% to 1,485
• Pending Sales increased 18.9% to 1,159
• Inventory decreased 28.3% to 17,761
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.4% to 4.7
Click on charts below to enlarge.
Number of Pending Sales Continue to Increase Each Month
Inventory Levels Continue Their Downward Trend
As reported by the Minneapolis Area Association of Realtors.
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