Monday, January 8th, 2018

For Week Ending December 30, 2017

As we close the books on 2017, it is clear that there is an ongoing national housing shortage. Year-over-year inventory levels have been down in most markets for several years now, and that trend is expected to persist in 2018. Even if there are occasional increases in the number of homes for sale from week to week, home supply is too low to achieve a balanced market. That said, consumers are most definitely purchasing homes quickly and often above asking price. Demand is strong, and there is plenty to feel optimistic about in 2018.

In the Twin Cities region, for the week ending December 30:

  • New Listings decreased 37.7% to 243
  • Pending Sales decreased 8.7% to 451
  • Inventory decreased 24.6% to 7,712

For the month of November:

  • Median Sales Price increased 6.5% to $245,000
  • Days on Market decreased 11.1% to 56
  • Percent of Original List Price Received increased 0.8% to 97.4%
  • Months Supply of Inventory decreased 21.7% to 1.8

All comparisons are to 2016

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

Posted in Weekly Report |
Friday, January 5th, 2018

For Week Ending December 23, 2017

As is usually the case this time of year, housing activity will slow down for a few weeks during the last of the 2017 holidays. Shrewd buyers and sellers will take advantage of this slower time of year to make meaningful deals, especially ahead of perceived or real changes that are due to take place in 2018 as regards taxes, mortgage rates, housing affordability and other factors.

In the Twin Cities region, for the week ending December 23:

  • New Listings increased 14.4% to 422
  • Pending Sales increased 8.0% to 702
  • Inventory decreased 23.8% to 8,120

For the month of November:

  • Median Sales Price increased 6.5% to $245,000
  • Days on Market decreased 11.1% to 56
  • Percent of Original List Price Received increased 0.8% to 97.4%
  • Months Supply of Inventory decreased 21.7% to 1.8

All comparisons are to 2016

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

Posted in Weekly Report |
Tuesday, December 26th, 2017

For Week Ending December 16, 2017

It has been another steady year for buying and selling residential real estate. The primary trends of inventory decline and price increase continued, and more of the same is anticipated in 2018 if consumer, employer and builder confidence remain high. Tweaks in tax law and mortgage rates could create either unwanted or desirable effects, depending on the market. Trend lines may flatten or turn, but it’s too soon to say exactly what will happen.

In the Twin Cities region, for the week ending December 16:

  • New Listings increased 9.0% to 641
  • Pending Sales decreased 1.3% to 752
  • Inventory decreased 23.9% to 8,499

For the month of November:

  • Median Sales Price increased 6.5% to $245,000
  • Days on Market decreased 11.1% to 56
  • Percent of Original List Price Received increased 0.8% to 97.4%
  • Months Supply of Inventory decreased 21.7% to 1.8

All comparisons are to 2016

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

Posted in Weekly Report |
Tuesday, December 26th, 2017

“New tax legislation could have ramifications on housing.”
Get The Skinny – November 2017!

Posted in Monthly Skinny Video |
Monday, December 18th, 2017

For Week Ending December 9, 2017

National economic trends can help inform what the housing market will do over the next year. Residential real estate should remain active if joblessness continues to decline and wage growth picks up. However, those increased wages must be in line with median sales price increases. Unfortunately, that has not always been the case. Add in factors such as increasing mortgage rates, student loan debt and lower affordability, and the balance becomes more interesting but not insurmountable for home purchasers.

In the Twin Cities region, for the week ending December 9:

  • New Listings increased 3.0% to 762
  • Pending Sales decreased 7.5% to 747
  • Inventory decreased 23.5% to 8,837

For the month of November:

  • Median Sales Price increased 6.5% to $245,000
  • Days on Market decreased 11.1% to 56
  • Percent of Original List Price Received increased 0.8% to 97.4%
  • Months Supply of Inventory decreased 21.7% to 1.8

All comparisons are to 2016

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

Posted in Weekly Report |

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