Minneapolis—St. Paul Real Estate Market Update

Real Estate Weekly Update
September 13, 2010

The Twin Cities residential real estate market’s paralysis continues. New listings were down 12.8 percent compared to last year at this time for the week ending September 4, 2010. Even so, more properties came on the market this past week than the week ending August 28th—a time when the school year normally slows seller activity.

Pending Sales were up slightly from the previous four weeks but remain 35.9 percent behind where we were at this time in 2009. This has been the case all summer long.

Active Listings for Sale are now 8.9 percent ahead of last year. Percent of Original List Price Received at Sale leaned toward buyers last month. Good news for home hunters; even more challenges for those looking to sell.

Statistical information provided by the Minneapolis Area Association of Realtors