For Week Ending September 8, 2018

Changing demographics, income levels, corporate growth and natural disasters all affect residential real estate markets. Home prices in Seattle and San Francisco have increased amidst e-commerce and technology success stories, while listings and sales decline precipitously when a hurricane strikes. This week, we are reminded of the destruction delivered by Hurricane Harvey to Houston at this time last year. From Katrina to Sandy to Maria to Florence, housing markets have bent but remain unbroken.

In the Twin Cities region, for the week ending September 8:

• New Listings increased 3.8% to 1,755
• Pending Sales decreased 2.3% to 1,048
• Inventory decreased 7.2% to 12,213

For the month of August:

• Median Sales Price increased 6.3% to $268,000
• Days on Market decreased 16.7% to 40
• Percent of Original List Price Received increased 0.7% to 99.2%
• Months Supply of Inventory decreased 3.8% to 2.5

All comparisons are to 2017

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

For Week Ending September 1, 2018

At this time of year, there tends to be a final push to get a housing deal done before a natural switch in focus toward the likes of back-to-school needs, home preparation for colder weather and even pre-planning for winter holiday and leisure travel. Although there doesn’t appear to be a huge national increase in sales compared to last year, there also isn’t any overt let-down. Residential real estate is healthy now and should continue to be healthy into the fall and winter seasons.

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

• New Listings decreased 1.4% to 1,291
• Pending Sales increased 0.4% to 1,217
• Inventory decreased 7.6% to 12,438

For the month of July:

• Median Sales Price increased 6.6% to $268,000
• Days on Market decreased 17.4% to 38
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Inventory decreased 7.4% to 2.5

All comparisons are to 2017

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

For Week Ending August 25, 2018

In both academic and conversational circles, more people are beginning to discuss 2018 as the end of the freewheeling days of residential real estate – with its high prices and fast sales, site unseen. Such a portrayal of the last several years of the housing market are sensationalistic at best, patently false at worst. It is true that median sales prices have risen and total days on market have lessened. This prevailing market trend has occurred gradually, and so shall the next trend.

In the Twin Cities region, for the week ending August 25:

• New Listings increased 12.5% to 1,686
• Pending Sales decreased 7.6% to 1,179
• Inventory decreased 9.0% to 12,378

For the month of July:

• Median Sales Price increased 6.6% to $268,000
• Days on Market decreased 17.4% to 38
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Inventory decreased 7.4% to 2.5

All comparisons are to 2017

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

For Week Ending August 18, 2018

It has been another busy summer for residential real estate. The lower supply, higher prices, faster sales mantra has remained in place for most of the nation for the entirety of the year – which heightened in intensity during the summer sales season – but there has been some conversation about the possibility of more supply and lower prices. Presently, it is just conversation, as the numbers are not reflective of a shift in trend lines anytime soon.

In the Twin Cities region, for the week ending August 18:

• New Listings increased 6.2% to 1,759
• Pending Sales decreased 10.2% to 1,215
• Inventory decreased 10.9% to 12,207

For the month of July:

• Median Sales Price increased 6.6% to $268,000
• Days on Market decreased 17.4% to 38
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Inventory decreased 11.1% to 2.4

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