Tag Archives: minnesota

Real Estate Update

Housing Supply Overview
February 2013

HSO Art Large

Let’s review what’s transpired over the past 12 months. For the 12-month period spanning March 2012 through February 2013, Pending Sales in the Twin Cities region were up 14.8 percent overall. The price range with the largest gain in sales was the $350,001 to $500,000 range, where they increased 42.7 percent.

The overall Median Sales Price was up 13.3 percent to $170,000. The property type with the largest price gain was the Condo segment, where prices increased 13.8 percent to $108,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 103 days; the price range that tended to sell the slowest was the $1,000,001 and Above range at 245 days.

Market-wide, inventory levels were down 31.6 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 28.9 percent. That amounts to 3.0 months supply for Single- Family Detached homes and 2.4 months supply for Townhomes and Twinhomes. See the PDF below for the full report.

HSO Feb 2013

As reported by the Minneapolis Area Association of Realtors

Interested in buying or selling real estate? Contact the Walsh Sisters.
We’d love to help you make your next move.

Ellen and Kate Walsh
612-220-3304
emwalsh@cbburnet.com

Coldwell Banker Burnet

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Real Estate Update

Weekly Real Estate Update
November 5, 2012

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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Crimson Hues at The Lake

Autumn Beauty

On Tuesday I spent the afternoon with a friend. We walked around Lake of the Isles. The crimson and golden hues presented plenty of photo opportunities. Here’s are some photos from the afternoon walk. Big thanks to my friend for stopping and waiting for me to capture all the images.

Real Estate Update

Weekly Real Estate Update
October 1, 2012


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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Real Estate Update

Weekly Real Estate Update
September 24, 2012

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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Real Estate Update

Weekly Real Estate Update
September 17, 2012


You fill the pot with the water and you turn the stove top on and you wait. You watch it and you want something to happen and it seems to take an exceptionally longtime. All you want to do is add the pasta or the brown rice or the frozen peas. And you wait. Because it’s important to wait until the water is roiling along in what is seemingly chaotic motion but is really the perfect environment for what is meant to be within it. This is our current housing market. It’s been an undeniably good spring and summer, and now we wait to see if the fall showcase is just as good if we mix in the right amount of inventory, sales and days on market.

In the Twin Cities region, for the week ending September 8:
• New Listings increased 2.2% to 1,273
• Pending Sales increased 24.2% to 940
• Inventory decreased 29.6% to 16,458

For the month of August:
• Median Sales Price increased 15.2% to $178,600
• Days on Market decreased 24.0% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 42.0% 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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Weekly Photo Challenge: Everyday Life

I love this week’s theme from the WordPress Weekly Photo Challenge. There are so many opportunities to capture people in the midst of their everyday lives. What do you see in your life? Here are things I saw on a recent trip to San Francisco and back here at home.

Mobile phones are a big part of everyday life

Another phone user, this time at the airport

A window cleaner

Cleaning at the airport

And back home again, at the Centennial Lakes Art Fair

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Real Estate Update

Weekly Real Estate Update
September 10, 2012

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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Real Estate Update

Weekly Real Estate Update
September 4, 2012

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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Weekly Photo Challenge: Urban

A rental building in Minneapolis and the patio created by the artist tenant

A creative environmental message in Saint Paul, MN

A torn lace curtain in a window of a home in St. Paul, Minnesota

Learn about the WordPress Weekly Photo Challenge here.

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Real Estate Update

Weekly Real Estate Update
August 14, 2012

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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Real Estate Update

Weekly Real Estate Update
July 16, 2012


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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Real Estate Update

Weekly Real Estate Update
July 9, 2012


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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Fleeting Moment

Weekly Photo Challenge: Fleeting Moment
May 29, 2012

Minneapolis Public Library in downtown Minneapolis, Minnesota

Setting the table at D’Amico Kitchen restaurant in Minneapolis, Minnesota

Children playing in a tree next to Lake Minnetonka

Learn more about the Weekly Photo Challenge: Fleeting Moment.

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Housing Supply Overview

May 2012

We’re nearly through the spring market, did you blink and miss it? Important changes have taken place, the sort of changes that will set the scene for the coming months and years. For the 12-month period spanning June 2011 through May 2012, Pending Sales in the Twin Cities region were up 26.7 percent overall. The price range with the largest gain in sales was the $120,000 and Below range, where they increased 33.8 percent.

The overall Median Sales Price was down 3.8 percent to $154,000. The property type with the smallest price decline was the Single-Family segment, where prices decreased 3.4 percent to $170,000. The price range that tended to sell the quickest was the $190,001 to $250,000 range at 131 days; the price range that tended to sell the slowest was the $1,000,001 and Above range at 277 days.

Market-wide, inventory levels were down 31.1 percent. The property type that lost the least inventory was the Single-Family segment, where it decreased 27.5 percent. That amounts to 4.6 months supply for Single-Family Detached homes and 5.4 months supply for Condos.

Click on the graph/image below to enlarge.

For additional market statistics, or to discuss buying or selling real estate, contact us. We’d love to be of service and help you reach your goals.

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Ellen Walsh
612.220.3304
emwalsh@cbburnet.com

Kate Walsh
612.220.3309
info@designhouse9.com

Coldwell Banker Burnet
Minneapolis Lakes Office

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