For Week Ending May 9, 2015

As we press through May, the residential real estate market is really hitting its paces. Sales activity has been plentiful and REALTORS® are busier than ever. The Bureau of Labor Statistics recently released April numbers, and they are still quite positive. The nation added 223,000 jobs and the national unemployment rate dropped to 5.4%. The need for more inventory is an ongoing issue, but not one that thwarts optimism in the marketplace.

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

• New Listings increased 7.1% to 2,117
• Pending Sales increased 24.0% to 1,526
• Inventory decreased 1.8% to 15,518

For the month of April:

• Median Sales Price increased 9.7% to $215,000
• Days on Market decreased 4.5% to 85
• Percent of Original List Price Received increased 1.1% to 97.0%
• Months Supply of Inventory decreased 2.8% to 3.5

All comparisons are to 2014

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

For Week Ending May 2, 2015

Through research conducted by the National Association of REALTORS® on the 100 largest housing markets in the nation, it was revealed that 93 out of 100 had uneven wealth ratios and declining homeownership between 2010 and 2013. Homeownership has dropped as slow wage growth, low inventory and tough mortgage standards have become the norm. Activity is spring fresh and exciting at the moment, but it is important to be mindful of the long game.

In the Twin Cities region, for the week ending May 2:

• New Listings increased 10.5% to 2,050
• Pending Sales increased 26.0% to 1,512
• Inventory decreased 1.3% to 15,298

For the month of April:

• Median Sales Price increased 10.2% to $216,000
• Days on Market decreased 4.5% to 85
• Percent of Original List Price Received increased 1.1% to 97.0%
• Months Supply of Inventory decreased 2.8% to 3.5

All comparisons are to 2014

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

For Week Ending April 25, 2015

New listings are on the ups, and buyers seem poised to move on the most desirable new properties in a hurry. Tales of one-day and even same-day purchase offers are being shared over coffee, lunch and happy hour, generally bringing the total days on market average down as the joy index rises.

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

• New Listings increased 3.5% to 1,971
• Pending Sales increased 38.7% to 1,625
• Inventory increased 0.4% to 15,178

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory increased 3.0% to 3.4

All comparisons are to 2014

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

For Week Ending April 18, 2015

Well, folks, we have hit the beginning of the selling season. As the actual calendar season announces its presence with overall temperature change, the residential real estate market will up its game by bringing an annual seasonal increase in home sales and inventory. Many metrics should begin to take off as we begin what should be one of the best recovery years housing has seen thus far.

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

• New Listings increased 31.1% to 2,062
• Pending Sales increased 18.8% to 1,426
• Inventory decreased 0.3% to 14,914

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory increased 3.0% to 3.4

All comparisons are to 2014

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

For Week Ending April 11, 2015

Both the job market and housing starts regularly draw media attention. One week, reports show that hiring is up and salaries are on the rise, and that home prices are increasing and inventory is on the rise. Then you might catch a story about a layoff or lack of homes for sale and flat prices. While there will always be markets in the country that aren’t as fast-tracked as others, it doesn’t mean they will finish last in the race. Recovery is still evident, as trends show stability to steady improvement.

In the Twin Cities region, for the week ending April 11:

• New Listings increased 9.7% to 2,114
• Pending Sales increased 17.0% to 1,319
• Inventory decreased 0.2% to 14,509

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory increased 3.0% to 3.4

All comparisons are to 2014

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

For Week Ending April 4, 2015

Rent or buy? It is the question on the minds of many as we cast full sail into the selling season. Whilst stories are written about which cities and neighborhoods are better to rent or buy in, we can hang in the peace of a fairly stable market where there are good options available for rent and sale. Spring is sprung, yet there is no raining on the hit parade of homeownership.

In the Twin Cities region, for the week ending April 4:

• New Listings decreased 8.4% to 1,688
• Pending Sales increased 32.8% to 1,364
• Inventory increased 2.8% to 14,431

For the month of March:

• Median Sales Price increased 10.5% to $210,000
• Days on Market increased 7.4% to 102
• Percent of Original List Price Received increased 0.8% to 95.9%
• Months Supply of Inventory remained flat at 3.3

All comparisons are to 2014

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

For Week Ending March 28, 2015

While there may be bubbly prices where bridges both Golden and Brooklyn adorn the last remaining postcards of a bygone era when people purchased postcard stamps, the bulk of the U.S. is in great shape this spring. Homeownership is a positive prospect in the face of rising rents in even the most affordable rental markets, while new home sales continue to bloom along with flowers and tree buds.

In the Twin Cities region, for the week ending March 28:

• New Listings increased 10.4% to 1,767
• Pending Sales increased 27.6% to 1,360
• Inventory increased 2.4% to 14,190

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 21, 2015

An increase in new home sales are in the spotlight, thanks to some recent figures by the Commerce Department, but one should be careful not to speculate too much about sales outpacing predicted numbers from the beginning of the year. Small sample sizes, seasonal adjustments and poor geographic weighting can have undesirable consequences on the reliability of national figures. This is why locally grown MLS data is often the best source for quality market-informed nourishment.

In the Twin Cities region, for the week ending March 21:

• New Listings increased 22.1% to 1,821
• Pending Sales increased 27.1% to 1,252
• Inventory increased 1.7% to 13,869

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 14, 2015

Have rents gone up enough to get renters to lean toward homeownership again? That’s the question of the moment. With mortgage rates remaining low, the time may be ripe for renters to invest in something beyond a 12-month lease as rental affordability is beginning to border on unaffordability.

In the Twin Cities region, for the week ending March 14:

• New Listings increased 20.6% to 1,765
• Pending Sales increased 14.3% to 1,040
• Inventory increased 1.4% to 13,523

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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

For Week Ending March 7, 2015

Many residential real estate markets across the country and locally are in a fairly stable state of balance, causing most stories about housing to be conservative in nature with not much change to report. As the weather continues to warm up across the country, more sales are expected.

In the Twin Cities region, for the week ending March 7:

• New Listings increased 31.7% to 1,915
• Pending Sales increased 34.1% to 1,098
• Inventory increased 0.3% to 13,018

For the month of February:

• Median Sales Price increased 9.3% to $200,000
• Days on Market increased 7.1% to 106
• Percent of Original List Price Received increased 0.7% to 94.2%
• Months Supply of Inventory increased 3.3% to 3.1

All comparisons are to 2014

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