For Week Ending April 30, 2016

The home-purchasing season may get a bit competitive this year thanks to low mortgage rates and pent up demand. With pending sales on the rise in many markets combined with a relatively low number of homes for sale, buyers need to act quickly once they find their ideal home.

In the Twin Cities region, for the week ending April 30:

• New Listings decreased 8.8% to 1,869
• Pending Sales increased 5.2% to 1,584
• Inventory decreased 18.7% to 12,966

For the month of April:

• Median Sales Price increased 7.7% to $231,500
• Days on Market decreased 14.1% to 73
• Percent of Original List Price Received increased 1.0% to 98.0%
• Months Supply of Inventory decreased 27.8% to 2.6

All comparisons are to 2015

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

For Week Ending April 23, 2016

Despite the literal and symbolic rain on the real estate market’s parade recently, REALTORS® are keeping busy with closing finalizations and stacked showing schedules. The average days on market remains low in most price ranges across the country. Interested buyers, and their agents, have to move fast this spring in order to find the right fit.

In the Twin Cities region, for the week ending April 23:

• New Listings decreased 1.5% to 1,942
• Pending Sales decreased 2.9% to 1,559
• Inventory decreased 18.5% to 12,906

For the month of March:

• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.9% to 96.8%
• Months Supply of Inventory decreased 25.7% to 2.6

All comparisons are to 2015

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

For Week Ending April 16, 2016

Higher home prices and declining months’ supply confirm that it continues to be an excellent time to sell as we start to shift into the heart of the sales season. While construction is expected to pick up and both first-time and move-up buyers are eager to bid for the perfect home, we still need to find a solution for the ongoing problem of low inventory.

In the Twin Cities region, for the week ending April 16:

• New Listings decreased 5.0% to 1,957
• Pending Sales increased 5.9% to 1,506
• Inventory decreased 19.1% to 12,592

For the month of March:

• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.9% to 96.8%
• Months Supply of Inventory decreased 28.6% to 2.5

All comparisons are to 2015

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

For Week Ending April 9, 2016

Although inventory is down across the country, many homes that do get listed are selling fast. Days on market is dwindling, and sellers are getting more for their homes than they might have in the past. Confident seller pricing combined with continuously low interest rates for buyers is keeping most markets balanced.

In the Twin Cities region, for the week ending April 9:

• New Listings decreased 6.1% to 1,983
• Pending Sales increased 15.2% to 1,496
• Inventory decreased 18.3% to 12,389

For the month of March:

• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.9% to 96.8%
• Months Supply of Inventory decreased 28.6% to 2.5

All comparisons are to 2015

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

For Week Ending April 2, 2016

The forecast is bright with a persistent rise in pending home sales. Low mortgage rates and rising rental prices continue to point buyers into the housing market. In order to maintain home-purchase momentum, the supply of homes for sale must grow.

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

• New Listings increased 15.6% to 1,954
• Pending Sales increased 1.8% to 1,378
• Inventory decreased 19.6% to 12,146

For the month of February:

• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.8% to 96.7%
• Months Supply of Inventory decreased 28.6% to 2.5

All comparisons are to 2015

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

For Week Ending March 26, 2016

With spring comes the welcoming of another season: the annual springtime seller’s market. Low inventory levels nationwide are inching sales prices higher and dropping the number of days that homes are staying on the market. With interest rates remaining unexpectedly low, there is even more incentive for buyers to competitively bid on new listings.

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

• New Listings decreased 15.9% to 1,488
• Pending Sales increased 4.4% to 1,384
• Inventory decreased 17.9% to 12,214

For the month of February:

• Median Sales Price increased 3.5% to $207,000
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 25.0% to 2.4

All comparisons are to 2015

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

For Week Ending March 19, 2016

Heading into the spring buying season, consumers are, on average, earning higher incomes than in recent years, and there is greater trust in job security compared to last year. While these factors heighten confidence in the health of the housing market, home buyers – and especially first timers – would benefit from more inventory and slow price increases.

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

• New Listings decreased 3.1% to 1,762
• Pending Sales increased 6.0% to 1,288
• Inventory decreased 17.8% to 11,959

For the month of February:

• Median Sales Price increased 3.5% to $207,083
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 25.0% to 2.4

All comparisons are to 2015

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

For Week Ending March 12, 2016

A fresh eagerness in the warming air combined with relatively affordable prices have buyers perusing and plucking homes like spring flowers, resulting in healthy sales activity. With gas prices remaining fairly low, consumers have full tanks to visit more homes. So fluff those decorative pillows and set out the cookies for your open houses: the buyers are coming and appear to be ready to bid.

In the Twin Cities region, for the week ending March 12:

• New Listings increased 1.8% to 1,796
• Pending Sales increased 22.8% to 1,262
• Inventory decreased 17.6% to 11,704

For the month of February:

• Median Sales Price increased 3.6% to $207,280
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 28.1% to 2.3

All comparisons are to 2015

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

For Week Ending March 5, 2016

Early March continues the 2016 trend of slow and steady home price increases across most of the country. Conversely, interest rates have remained low, keeping inventory and home sales balanced and the market healthy.

In the Twin Cities region, for the week ending March 5:

• New Listings increased 2.5% to 1,959
• Pending Sales increased 6.8% to 1,155
• Inventory decreased 18.7% to 11,145

For the month of February:

• Median Sales Price increased 3.8% to $207,500
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Inventory decreased 28.1% to 2.3

All comparisons are to 2015

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

For Week Ending February 27, 2016

Strength in consumer spending and a towering peak in industrial production are both indicators that the economy has made strides early on in the year. Despite the continuing decline in inventory, the housing market should be a bright spot in the national economy.

In the Twin Cities region, for the week ending February 27:

• New Listings decreased 4.7% to 1,456
• Pending Sales increased 1.5% to 1,074
• Inventory decreased 17.8% to 11,056

For the month of January:

• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 29.0% to 2.2

All comparisons are to 2015

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