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Posts Tagged ‘sales’

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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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 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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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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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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Weekly Real Estate Update
June 25, 2012


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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Weekly Real Estate Update
May 21, 2012


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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