Weekly Market Activity Report

By Greg Sax on Monday, August 10th, 2009

Week of August 10, 2009

Woof, it's getting hot out there. The Twin Cities housing market is entering the dog days of summer, and with that comes a bit more stagnant air revolving around new inventory. The 1,637 new listings for the week ending August 1 are 12.2 percent below last year's numbers. Over the past few weeks, pending sales have been flat, but in year-over-year comparisons they are still 20.9 percent above 2008 numbers.

Two new stats for the week:

Days on Market Until Sale: Dropped by 6.6 percent over last year, from 146 to 137. Inventory is being swept up.

Percent of Original List Price: 94 percent. On a steady increase the past few months as is usually the case during the summer months.

 

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