For Week Ending January 19, 2019

Although snow and cold have been affecting a sizable portion of the nation this January, the initial assessment of early-year weekly real estate trends indicates a healthy level of new listings in many housing markets – even in wintry locales. Pending sales figures are generally showing a healthy balance compared to last year at this time. Combined with favorable mortgage rates, these early indicators bode well for active real estate markets across the nation. Let’s look at what happened locally.

In the Twin Cities region, for the week ending January 19:

• New Listings increased 9.0% to 1,029
• Pending Sales decreased 7.2% to 695
• Inventory increased 2.1% to 8,029

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 12, 2019

The unemployment rate rose by 0.2 percent to finish December 2018 at 3.9 percent. Although the rate went up from the month prior, it was down by 1.2 percent compared to the same month last year. As the nation continues to wrestle with a partial government shutdown that has some people worried about the economy at large, it is important to note that the employment situation at large remains in a relatively strong position.

In the Twin Cities region, for the week ending January 12:

• New Listings increased 14.9% to 1,026
• Pending Sales increased 6.9% to 650
• Inventory increased 2.8% to 7,969

For the month of December:

• Median Sales Price increased 4.0% to $258,000
• Days on Market decreased 6.6% to 57
• Percent of Original List Price Received decreased 0.2% to 96.9%
• Months Supply of Inventory increased 13.3% to 1.7

All comparisons are to 2018

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

For Week Ending January 5, 2019

The turn of a calendar year often creates a desire to resolve to do something different. Weight loss through a combination of regular exercise and healthy eating is often at the top of the list, followed by learning a new skill, quitting smoking, reading more, spending more time with loved ones, getting more organized, traveling and saving money. Annual evidence indicates that a bump in listing and buying activity also occurs each January, which appears to be the case again in 2019 for much of the country.

In the Twin Cities region, for the week ending January 5:

• New Listings decreased 4.9% to 809
• Pending Sales increased 0.7% to 553
• Inventory increased 6.0% to 8,209

For the month of November:

• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Inventory increased 10.5% to 2.1

All comparisons are to 2018

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

For Week Ending December 29, 2018

Although the 2018 U.S. stock market had its worst losses in a decade, employers added 2.64 million jobs in 2018 – the best year since 2015 – as well as 312,000 jobs during December. In addition, average hourly earnings increased 3.2 percent, matching the October 2018 percentage that marked a nearly ten-year high. The unemployment rate rose to 3.9 percent from 3.7 percent but is still historically low. These combined events give the impression of an economy that remains ultimately optimistic but is also recalibrating.

In the Twin Cities region, for the week ending December 29:

• New Listings increased 22.2% to 297
• Pending Sales increased 11.5% to 514
• Inventory increased 0.2% to 8,608

For the month of November:

• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Inventory increased 10.5% to 2.1

All comparisons are to 2017

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