Real Estate Update

Housing Supply Overview
February 2013

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
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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Trees and Terrace

Weekly Photo Challenge: Create
June 22, 2012

Washington Dulles International Airport
Wall of trees overlooking the terrace

This was the view that greeted me as I arrived on the ticketing level of Dulles last week. The window itself is beautiful; it’s further enhanced by the terrace beyond. It wouldn’t be nearly as pretty if it overlooked a parking lot. Also noteworthy is the reflection of the window, greenery and sky on the floor, all serving to double this picturesque setting.

Read more about the WordPress Weekly Photo Challenge.

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Scenes From Lyndale Park

Weekly Photo Challenge: Today

Week Beginning June 1, 2012

This week’s challenge is to go out and take a photo rather than dig through our archives. I headed out with my camera, not exactly sure where I’d go or what I’d photograph. I took a lot of pictures and it was tough deciding which ones to post today. I finally settled on these garden shots because they aren’t the oft seen rose, tulip or other popular flower photos. (Yes, I have rose photos as well.)

There’s also a photo taken on the way to the garden–of a scene just begging to be photographed!

These flower photos were taken at the award-winning Lyndale Gardens by Lake Harriet in Minneapolis, Minnesota. The Lyndale Park Gardens encompasses four distinctive gardens: Rose Garden, Annual/Perennial Garden, Peace (Rock) Garden, and Perennial Trial Garden and Hummingbird/Butterfly Garden.

Read more about the weekly photo challenge at the DailyPost.wordpress.com.

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Spring Show of Blossoms

Photos of the Day
April 3, 2012

A plum tree puts on a spring show of blossoms in Saint Paul.

It’s a lovely time of year, isn’t it?

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Real Estate Update

Weekly Real Estate Update | Minneapolis–Saint Paul
March 26, 2012

National Association of Home Builders/Wells Fargo Housing Market Index (HMI) reached 28. To put that in perspective, it went from above 70 in 2005 to below 10 in 2009. The HMI has not seen 28 since June 2007. This and other landmark data points are coalescing to signal calmer waters ahead. That’s not to say you should expect double-digit annualized appreciation, but both buyers and sellers are displaying the sort of confidence that is fluttering through the rest of the economy.

In the Twin Cities region, for the week ending March 17:
• New Listings decreased 1.3% to 1,406
• Pending Sales increased 23.1% to 1,029
• Inventory decreased 27.5% to 17,088

For the month of February:
• Median Sales Price decreased 1.4% to $138,000
• Days on Market decreased 9.0% to 145
• Percent of Original List Price Received increased 2.5% to 90.6%
• Months Supply of Inventory decreased 35.2% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Real Estate Update

Weekly Real Estate Update
February 27, 2012

The week left yet another trail of evidence leading back to a housing market on the mend. This time, the encouraging signs were even less clandestine. Nationally, both new and existing home sales enjoyed improvements. Even some December numbers were upwardly revised. New home sales have real and noticeable impacts on GDP, thus generating jobs and driving down unemployment. The overall bias for the entire U.S. is firmly toward balance. Locally, market activity was mostly positive. Spring will still be the major tell.

In the Twin Cities region, for the week ending February 18:
• New Listings decreased 7.1% to 1,256
• Pending Sales increased 28.6% to 899
• Inventory decreased 23.2% to 17,756

For the month of January:
• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.5% to 142
• Percent of Original List Price Received increased 3.4% to 91.2%
• Months Supply of Inventory decreased 34.2% to 4.7

As reported by the Minneapolis Area Association of Realtors.

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Horse and Home

Photos of the Day
August 26, 2011

Yesterday I went out to photograph my friend with her horses. The top photo shows two of her horses. I rode the lighter, chestnut-colored horse on the right  The second picture is of horses that visited us at the fence line when we came by with my friend’s horses. Such beautiful animals. Here’s part of a Navaho prayer and night chant that seems to fit these animals and our afternoon:

With beauty may I walk.
With beauty before me, may I walk.
With beauty behind me, may I walk.
With beauty above me, may I walk.
With beauty below me, may, I walk.
With beauty all around me, may I walk.

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I Love a Fountain

Cool View for a Hot Day
July 20, 2011

Cool waters run at Buckingham Fountain in Grant Park in Chicago

I recently returned from a trip to Chicago. I’ve always loved Buckingham Fountain in Grant Park. It’s one of the largest fountains in the world. It’s another heat wave in the Midwest. Enjoy this visual/virtual relief.
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A short video of this beautiful fountain:

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Buckingham Fountain-Behind the Scenes

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Mill Ruins and Stone Arch Bridge

A Mix of Ruins and Modern Architecture

Yesterday I spent the morning with my photographer friend Valerie. We walked along the riverfront of downtown Minneapolis and across the Stone Arch Bridge. It was an overcast morning–not the best for taking photographs. But that’s what nature dished up for us. Here then, some of the photos from the morning walk.

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This is a wonderful part of the city to explore. There’s plenty to see and do. Take a Segway tour. Visit the Mill City Museum and the Guthrie Theater. See St. Anthony Falls from the Water Power Park on the other side of the river. Explore Father Hennepin Park and Island. Stroll along Main Street. Have fun!

 

Minneapolis–St. Paul Real Estate Market Update

Real Estate Weekly Update
February 7, 2011

For the week ending January 29, 2011, purchase activity in the Twin Cities 13-county metro registered 2.0 percent below the same week in 2010.  That marked the smallest decline in buyer activity in two months. Pending Sales in the first half of 2011 will struggle to match the high marks set during last year’s tax credit but should parallel 2009 levels.

Seller activity has mimicked last year’s levels thus far, only about 300 units slimmer. A total of 1,317 New Listings entered the market for the week, 16.9 percent fewer than the same week last year.

Active Listings for Sale increased a modest 1.8 percent from last year. Current inventory levels have remained fairly static over the past five weeks.

As reported by the Minneapolis Area Association of Realtors.

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