For Week Ending May 28, 2016

The trends of higher sales and fewer homes for sale that prevailed through the first quarter of 2016 have only gotten stronger through the second quarter. Although more sellers are listing than at this time last year, it’s still not quite enough to keep up with the heat of today’s sales environment. Buyers appear to be making great offers ahead of any hint of higher mortgage rates.

In the Twin Cities region, for the week ending May 28:

• New Listings increased 2.5% to 1,734
• Pending Sales increased 18.6% to 1,597
• Inventory decreased 18.8% to 13,669

For the month of April:

• Median Sales Price increased 7.6% to $231,341
• 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 25.0% to 2.7

All comparisons are to 2015

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

For Week Ending May 21, 2016

Housing has been a strong sector of the nation’s economy over the past few years, but new construction has not been growing with demand so far in 2016. Low inventory and rising prices continue to be the trends to watch. As long as the local economy stays in growth mode and aging millennials choose to buy over renting, the market should remain on an extended path of stability.

In the Twin Cities region, for the week ending May 21:

• New Listings increased 16.7% to 2,199
• Pending Sales increased 10.4% to 1,613
• Inventory decreased 19.0% to 13,533

For the month of April:

• Median Sales Price increased 7.7% to $231,450
• 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 25.0% to 2.7

All comparisons are to 2015

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

For Week Ending May 14, 2016

The U.S. housing market continues to churn out positive year-over-year sales numbers, but some markers of hesitation are worth watching. Some sellers hesitate to list their homes because they are not sure that they will find an attractive replacement for their own fast-selling home. Many young consumers, saddled with student loan debt and having transient tendencies, hesitate to commit to a home purchase longer than previous generations. Nevertheless, home starts are on the rise, and the market remains strong during the busiest weeks of the year.

In the Twin Cities region, for the week ending May 14:

• New Listings decreased 3.0% to 2,120
• Pending Sales increased 9.2% to 1,607
• Inventory decreased 18.4% to 13,344

For the month of April:

• Median Sales Price increased 7.8% to $231,750
• 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 25.0% to 2.7

All comparisons are to 2015

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

For Week Ending May 7, 2016

Although higher than they were a year ago, mortgage applications are barely moving from week to week despite mortgage rates sitting at three-year lows. Supply remains lean across the country, and sales figures are showing some of the strain of that reality. Homes that show well continue to sell quickly and at prices that make sellers smile.

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

• New Listings increased 4.8% to 2,212
• Pending Sales increased 3.3% to 1,555
• Inventory decreased 19.4% to 13,011

For the month of April:

• Median Sales Price increased 7.8% to $231,750
• 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 25.0% to 2.7

All comparisons are to 2015

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

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.