Real Estate News

Monday, December 10th, 2018

For Week Ending December 1, 2018

While recent stock market activity has displayed some heart-pounding drops and rallying rises, that volatility has not created the same tidal waves within residential real estate. Increasing home prices and mortgage rates have indeed created a sense of immediacy for some buyers and turned others away due to affordability concerns, but these decisions appear to be rooted in longer-term trends rather than the effects of a media headline or presidential tweet.

In the Twin Cities region, for the week ending December 1:

  • New Listings increased 7.0% to 877
  • Pending Sales decreased 9.0% to 904
  • Inventory increased 1.5% to 10,437

For the month of October:

  • Median Sales Price increased 8.6% to $265,000
  • Days on Market decreased 7.7% to 48
  • Percent of Original List Price Received increased 0.2% to 97.9%
  • Months Supply of Inventory remained flat at 2.4

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Monday, December 3rd, 2018

For Week Ending November 24, 2018

With each passing week, it is evident that residential real estate markets across the nation are poised to finish 2018 with positive energy and room for optimism. Even in an environment of rising home prices and mortgage rates, we are finding relative balance in city after city when looking specifically at year-over-year trends. While it’s true that sales and new listings are down compared to last year at this time for some price ranges and home types, it is not often by much.

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

  • New Listings increased 16.7% to 525
  • Pending Sales decreased 7.2% to 670
  • Inventory increased 2.0% to 10,852

For the month of October:

  • Median Sales Price increased 8.6% to $265,000
  • Days on Market decreased 7.7% to 48
  • Percent of Original List Price Received increased 0.2% to 97.9%
  • Months Supply of Inventory remained flat at 2.4

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Monday, November 26th, 2018

“A trend of market balance is emerging as we approach the end of 2018.”

Posted in Monthly Skinny Video |
Monday, November 26th, 2018

For Week Ending November 17, 2018

Sales and new listings continue to perform well in much of the nation thanks to a booming economy. Housing affordability remains a concern and is beginning to affect new single-family home construction. Builders are showing caution in the face of rising home prices and mortgage rates. Historically, housing can still be considered relatively affordable, but affordability measures have shown decline for several years. If this continues, it could negate recent gains in inventory.

In the Twin Cities region, for the week ending November 17:

  • New Listings increased 6.7% to 955
  • Pending Sales decreased 7.0% to 891
  • Inventory increased 0.9% to 11,273

For the month of October:

  • Median Sales Price increased 8.6% to $265,000
  • Days on Market decreased 7.7% to 48
  • Percent of Original List Price Received increased 0.2% to 97.9%
  • Months Supply of Inventory remained flat at 2.4

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |
Monday, November 19th, 2018

For Week Ending November 10, 2018

The Bureau of Labor Statistics recently reported that the unemployment rate for October 2018 remained unchanged from the prior month at 3.7 percent. Low unemployment has been one of many positive outcomes during a strong U.S. economy. Real estate has also been a benefactor of recent economic strength, as cranes dot U.S. skylines and median sales prices have increased in most residential real estate markets for several years. Gainful employment is important in order for these conditions to continue.

In the Twin Cities region, for the week ending November 10:

  • New Listings increased 9.4% to 1,012
  • Pending Sales decreased 6.1% to 949
  • Inventory increased 0.8% to 11,649

For the month of October:

  • Median Sales Price increased 8.6% to $265,000
  • Days on Market decreased 7.7% to 48
  • Percent of Original List Price Received increased 0.2% to 97.9%
  • Months Supply of Inventory remained flat at 2.4

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Posted in Weekly Report |

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