For Week Ending October 21, 2017

The level of real estate activity should subside each week for the remainder of the year. Savvy real estate professionals not only begin to plan now for another successful year next year, but they continue to track the trends to see where prices, listings and other metrics are at relative to last year and all past years of available data. Finding reliable patterns in the trends is a sure way to be of greater service to buyers and sellers. Let’s see where those trends are in our local market.

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

• New Listings increased 10.5% to 1,329
• Pending Sales decreased 4.4% to 1,016
• Inventory decreased 17.7% to 12,042

For the month of September:

• Median Sales Price increased 7.2% to $246,650
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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

For Week Ending October 14, 2017

Much was made of the homeownership rate dropping to a 50-year low last year. It was thought that tastes had changed, especially among Millennials, and that people craved more mobility through rentals and smaller, more urban homes. Then something happened earlier this year: Millennials drove up the homeownership rate. Judging by continued buyer demand well into autumn, it would seem that owning a home is still as desirable today as it was 50 years ago.

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

• New Listings decreased 1.7% to 1,365
• Pending Sales decreased 5.1% to 1,027
• Inventory decreased 17.2% to 12,247

For the month of September:

• Median Sales Price increased 7.2% to $246,500
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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