For Week Ending August 26, 2017

Conversationally speaking, it has been a busy and exciting summer for residential real estate. Much has been said about low supply, higher prices and speedy sales, but the truth of the matter is that buyers are snatching up desirable homes no matter the trends. Good transactions are occurring with smart lending practices. Although more inventory would be useful, the market is finding a way to succeed.

In the Twin Cities region, for the week ending August 26:

• New Listings increased 3.7% to 1,499
• Pending Sales decreased 1.3% to 1,227
• Inventory decreased 16.4% to 13,010

For the month of July:

• Median Sales Price increased 5.6% to $251,650
• Days on Market decreased 16.4% to 46
• Percent of Original List Price Received increased 0.8% to 99.1%
• Months Supply of Inventory decreased 16.1% to 2.6

All comparisons are to 2016

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

For Week Ending August 19, 2017

With each passing August day, fewer households with school-aged children are willing to embark upon a big move for fear of unsettling kids from the important routines that lay the groundwork for a good education. But savvy sellers and buyers know that there are good deals to be made in August and well into the school months, as household formations take on many shapes and sizes.

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

• New Listings increased 3.0% to 1,618
• Pending Sales decreased 3.8% to 1,244
• Inventory decreased 16.2% to 12,733

For the month of July:

• Median Sales Price increased 5.9% to $254,000
• Days on Market decreased 16.7% to 45
• Percent of Original List Price Received increased 0.8% to 99.2%
• Months Supply of Inventory decreased 19.4% to 2.5

All comparisons are to 2016

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