For Week Ending April 7, 2018

The spring of 2018 has exhibited weather patterns that many will not soon forget. Professional baseball games are getting canceled due to snow, vacations are being delayed by grounded flights and the usual rush that takes place in the housing market when the names of months get shorter is maintaining a more even pace. Given continued heightened buyer demand brought on by more household formations and higher wages, temperance may well be a good thing for market health.

In the Twin Cities region, for the week ending April 7:

• New Listings decreased 5.8% to 1,941
• Pending Sales decreased 11.7% to 1,230
• Inventory decreased 24.9% to 8,365

For the month of March:

• Median Sales Price increased 9.8% to $258,000
• Days on Market decreased 21.9% to 57
• Percent of Original List Price Received increased 1.1% to 99.1%
• Months Supply of Inventory decreased 22.7% to 1.7

All comparisons are to 2017

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

For Week Ending March 31, 2018

Climbing out of winter has taken more time than usual for much of the U.S., but house hunting should finally be taking center stage for many buyers. Quickly assessing what’s available for sale will be key for buyers in what is sure to be another competitive selling season. Buyers and sellers must watch for further mortgage rate increases and volatile economic indicators like a jumpy stock market and chilly relations with international trade partners, which can cause shifts in local housing markets.

In the Twin Cities region, for the week ending March 31:

• New Listings decreased 35.2% to 1,234
• Pending Sales decreased 19.2% to 1,124
• Inventory decreased 23.0% to 8,397

For the month of February:

• Median Sales Price increased 12.7% to $250,000
• Days on Market decreased 15.9% to 69
• Percent of Original List Price Received increased 1.6% to 98.0%
• Months Supply of Inventory decreased 15.8% to 1.6

All comparisons are to 2017

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

For Week Ending March 24, 2018

In general, housing markets are performing rather well across the country and locally. While some measures may show year-over-year declines at times, the truth of the matter is that showings are plentiful, buyers are eagerly searching for homes to purchase and good properties are exchanging hands whether or not the overall inventory situation is less than favorable or mortgage rates go up a quarter percent.

In the Twin Cities region, for the week ending March 24:

• New Listings decreased 1.9% to 1,586
• Pending Sales decreased 12.4% to 1,197
• Inventory decreased 23.2% to 8,290

For the month of February:

• Median Sales Price increased 12.7% to $250,000
• Days on Market decreased 15.9% to 69
• Percent of Original List Price Received increased 1.6% to 98.0%
• Months Supply of Inventory decreased 15.8% to 1.6

All comparisons are to 2017

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