For Week Ending February 4, 2017

According to a recent Gallup poll, it is the first time in more than 15 years that a majority of Americans are optimistic about finding a quality job. This is great news for the entry-level housing market, as job growth and improved wages fuel demand for home purchases. Rents have also been on the rise, another factor that has put the entry-level market in strong demand.

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

• New Listings increased 3.3% to 1,282
• Pending Sales remained flat at 882
• Inventory decreased 24.0% to 8,399

For the month of January:

• Median Sales Price increased 4.7% to $225,000
• Days on Market decreased 7.1% to 79
• Percent of Original List Price Received increased 0.9% to 95.9%
• Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

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

For Week Ending January 28, 2017

While the winter months that lead us through the holiday season and to the end of December are typically a slower time for the housing market, the beginning of each new year tends to bring a renewed interest in moving or buying. The annual January resolution effect is in full swing so far in 2017. Prices are increasing, purchase agreements are being signed, and despite record inventory lows, demand remains strong.

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

• New Listings decreased 3.0% to 994
• Pending Sales decreased 9.5% to 777
• Inventory decreased 24.2% to 8,427

For the month of December:

• Median Sales Price increased 3.9% to $228,000
• Days on Market decreased 10.1% to 71
• Percent of Original List Price Received increased 0.6% to 96.0%
• Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

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

For Week Ending January 28, 2017

While the winter months that lead us through the holiday season and to the end of December are typically a slower time for the housing market, the beginning of each new year tends to bring a renewed interest in moving or buying. The annual January resolution effect is in full swing so far in 2017. Prices are increasing, purchase agreements are being signed, and despite record inventory lows, demand remains strong.

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

• New Listings decreased 3.0% to 994
• Pending Sales decreased 9.5% to 777
• Inventory decreased 24.2% to 8,427

For the month of December:

• Median Sales Price increased 3.9% to $228,000
• Days on Market decreased 10.1% to 71
• Percent of Original List Price Received increased 0.6% to 96.0%
• Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

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