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Real Estate Update
December 2, 2012

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Home buyers entered more contracts and homeowners listed more properties than during the same week of 2011. As a whole, 2012 is shaping up to be quite the pivotal year for housing. With 2013 right around the corner, the smart money is monitoring seller concessions, market times, absorption rates and, of course, home prices. The genius money is watching foreclosure listing and sales volumes, delinquency rates and showing activity.

In the Twin Cities region, for the week ending November 24:

• New Listings increased 0.7% to 607
• Pending Sales increased 12.8% to 608
• Inventory decreased 28.8% to 14,546

For the month of October:

• Median Sales Price increased 14.8% to $175,000
• Days on Market decreased 25.2% to 103
• Percent of Original List Price Received increased 3.5% to 94.5%
• Months Supply of Inventory decreased 39.6% to 3.8

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
November 12, 2012


1.3 million. That’s how many Americans were reportedly lifted out of underwater mortgage situations this year from rising home prices, according to the Obama administration’s October Housing Scorecard. There’s more going on than meets the eye here. Rising prices also help restore tax base, decreasing the likelihood of tax increases later. National GDP even benefits. When real estate is chugging along, things are good. And now, arguably more so than ever in the past four or five years, real estate is starting to chug again. It’s not at full speed yet, but the open track ahead beckons.

In the Twin Cities region, for the week ending November 3:
• New Listings decreased 1.0% to 1,125
• Pending Sales increased 25.3% to 930
• Inventory decreased 27.7% to 15,434

For the month of October:
• Median Sales Price increased 14.8% to $174,995
• Days on Market decreased 25.0% to 103
• Percent of Original List Price Received increased 3.5% to 94.4%
• Months Supply of Inventory decreased 41.0% to 3.7

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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And Then They Bought It

My sister and I were working with a lovely newly wedded couple to find them a home. We looked at homes in Saint Paul. We looked in Minneapolis. We looked along the river front. And then this home came on the market. Initially, the only photo on the MLS was of the front exterior. I told them it was either ugly and dated inside or the listing agents were planning professional photos to be taken.  It turned out they were having professional photos taken of the interiors.

We went to see it right away. The couple knew they had found something special that first time through. My sister and I have worked with many buyers who have walked into homes and known immediately it was the home for them.

The home had been owned by the sellers for over forty years. The prior owners had also lived in this home for decades. Both of the previous owners had been newly wedded couples when they first moved in to this home. This is what I call great predecessor history. It bodes well for this couple’s future happiness.

The next day we went back with an architect to get some ideas and cost information for remodeling the kitchen. The architect confirmed they had great space to work with.

They made their offer, and after some pretty painless negotiation, the contract was signed and delivered. They secured an amazing 2.75% mortgage rate. The closing took place at the end of July. They love their new home.

I can’t wait to see their new kitchen!

The home has a great screened porch!

And a private, double lot with mature trees and perennial gardens.

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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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