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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
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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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
October 23, 2012


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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Weekly Real Estate Update
May 29, 2012


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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