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
- Sellers: flat. Buyers: down. Prices: up.
- Good news for sellers may finally be luring them into the market
- Long-Term Price Trend
- Q2 – 2018 Home Payment Report
- Slightly less activity yet higher prices in less time
- Mixed Spring: Activity cools while prices, market times remain hot
- Congratulations to our 2018 Scholarship Recipients
- Q1 – 2018 Home Payment Report
- What’s this about 4-Plexes in Minneapolis?
- Sales down in early spring market while prices rally