For Week Ending November 18, 2017

Home price appreciation is on the rise in most of the country, which is welcome news for any homeowner that experienced a time when it was not. Although trends vary by region and state, the overarching trend is increased prices, according to research performed by the National Association of REALTORS® on American Community Survey data from 2005 through 2016. Price growth is strongest in the South and less so in the Northeast, and only a few states show no growth or losses. Affordability is most favorable in the Midwest, and the West is least affordable, on average.

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

• New Listings decreased 6.6% to 896
• Pending Sales decreased 5.1% to 912
• Inventory decreased 20.1% to 10,407

For the month of October:

• Median Sales Price increased 6.1% to $244,000
• Days on Market decreased 14.8% to 52
• Percent of Original List Price Received increased 0.8% to 97.7%
• Months Supply of Inventory decreased 18.5% to 2.2

All comparisons are to 2016

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

For Week Ending November 11, 2017

During the final two months of the year, residential real estate traditionally slows down to make way for more holiday, travel and retail spending. Assessing the dominant trend of 2017, most housing markets have seen the number of homes for sale decrease in year-over-year comparisons. So much so, that further decreases in 2018 will be newsworthy, as prices would likely keep rising in a seller’s market. Presently, in a thriving economy with low unemployment, agents and consumers alike still have reason for optimism.

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

• New Listings decreased 7.6% to 924
• Pending Sales increased 7.1% to 976
• Inventory decreased 18.5% to 10,871

For the month of October:

• Median Sales Price increased 6.1% to $244,000
• Days on Market decreased 14.8% to 52
• Percent of Original List Price Received increased 0.8% to 97.7%
• Months Supply of Inventory decreased 18.5% to 2.2

All comparisons are to 2016

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