For Week Ending June 25, 2016

As we know, declining inventory has been the central focus of real estate news throughout the first half of the year. The lack of options of homes for sale seems to be keeping many from selling and instead, staying and renovating. This, in turn, leads to a lack of starter homes for first-time buyers. Sales are still climbing ever upward, and low mortgage rates continue to aid affordability.

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

• New Listings increased 2.2% to 1,907
• Pending Sales decreased 6.0% to 1,336
• Inventory decreased 19.0% to 14,294

For the month of May:

• Median Sales Price increased 5.8% to $236,900
• Days on Market decreased 21.1% to 60
• Percent of Original List Price Received increased 1.1% to 98.6%
• Months Supply of Inventory decreased 26.3% to 2.8

All comparisons are to 2015

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

For Week Ending June 18, 2016

Like summer temperatures, home prices continue to inch up in most housing categories and geographic submarkets. Meanwhile, hopeful buyers are wishing for more options to fulfill the perfect fit. As we reach deeper into summer, dips in home sales are not unexpected. Even while people search for homes in which to move or start a family, summer is also about family time in other ways.

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

• New Listings decreased 4.2% to 1,967
• Pending Sales increased 1.9% to 1,389
• Inventory decreased 19.0% to 14,085

For the month of May:

• Median Sales Price increased 5.8% to $236,900
• Days on Market decreased 21.1% to 60
• Percent of Original List Price Received increased 1.1% to 98.6%
• Months Supply of Inventory decreased 26.3% to 2.8

All comparisons are to 2015

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