For Week Ending September 2, 2017

Market trends have remained steady for the last couple of years, which has allowed residential real estate to flourish in terms of sales activity and buyer demand. Even when total sales are not measuring forward in year-over-year comparisons, it is evident that the market is responding positively to wider economic indicators. Higher prices, fewer days on market and lower months of supply are all usual indicators of healthy activity.

In the Twin Cities region, for the week ending September 2:

• New Listings decreased 2.3% to 1,306
• Pending Sales decreased 4.3% to 1,145
• Inventory decreased 16.5% to 12,852

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.