For Week Ending September 17, 2016

As temperatures start to cool throughout the country, the total number of home sales will cool as well, as is the seasonal nature of the housing market. But with household incomes on the rise within a healthy job market, that doesn’t necessarily equate to a downward year-over-year trend. Continuing supply restrictions will certainly have an effect on numbers that may otherwise obviously point toward sunny day real estate.

In the Twin Cities region, for the week ending September 17:

• New Listings decreased 0.9% to 1,603
• Pending Sales decreased 1.5% to 1,079
• Inventory decreased 17.3% to 14,177

For the month of August:

• Median Sales Price increased 5.6% to $237,500
• Days on Market decreased 14.1% to 55
• Percent of Original List Price Received increased 0.8% to 97.9%
• Months Supply of Inventory decreased 21.6% to 2.9

All comparisons are to 2015

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