Weekly Market Activity Report
By Erin Milburn on Monday, July 28th, 2014
Finding the truth behind housing statistics is like debating the best beer for summertime. On the beer side, you might pick an American wheat, Belgian white, shandy, Kolsch, cider or maybe a Coors Light if you’re into the pickup truck and dirt road scene. On the housing side, you might say we’re too heavy toward a seller’s market as prices rise, that another buyer’s market is over the horizon if inventory pushes up or that things are just right for the first time in years. No matter where your submarket sits on the scale, it’s safe to say that MLS data is the best base for a meaningful opinion and that a doppelbock is not a good base for an outdoor barbecue in the middle of July.
In the Twin Cities region, for the week ending July 19:
• New Listings increased 10.4% to 1,913
• Pending Sales decreased 1.0% to 1,145
• Inventory increased 8.9% to 18,011
For the month of June:
• Median Sales Price increased 4.7% to $219,900
• Days on Market decreased 6.8% to 69
• Percent of Original List Price Received decreased 0.3% to 97.2%
• Months Supply of Inventory increased 10.5% to 4.2
- Home prices reach new record while sales growth moderates
- End of Year Membership Reminders
- Code of Ethics. Your Key to Being a REALTOR.
- 2017 REALTOR Heart of the Community Award
- Market flat in preparation for winter
- The Home Payment Report – Q4
- Where Does My Membership Dues Payment Go?
- MAAR REALTORS® Support Local Candidates for Public Office
- Slight cool-down possible, particularly under $250,000
- The Home Payment Report – Q3