February Monthly Skinny Video
Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity.
Existing Home Sales
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending February 14, 2015
As we hit February, mortgage rates continue to remain low, bringing about a high dosage of optimism to the market. While some reports attempt to dissect drops in builder confidence with a negative-bent attitude, low rates seem prepped to steer potential buyers toward getting their own set of house keys, curbing the pessimism of market naysayers.
In the Twin Cities region, for the week ending February 14:
- New Listings increased 12.1% to 1,298
- Pending Sales increased 15.6% to 920
- Inventory decreased 3.7% to 12,410
For the month of January:
- Median Sales Price increased 8.5% to $195,000
- Days on Market increased 7.5% to 100
- Percent of Original List Price Received increased 0.2% to 93.7%
- Months Supply of Inventory remained flat at 2.9
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Mortgage Rates Rise Again
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending February 7, 2015
Nationally, housing starts are off to a good start in 2015, with new projects ahead of last year at this time. Before the confetti cannons come out, this doesn’t necessarily mean that sellers can start asking more and that buyers will immediately have more to choose from. But this does bode well for increased confidence throughout the residential real estate marketplace. Balance means a lighter ebb and flow of various market metrics rather than astronomical gains and losses. This is positive.
In the Twin Cities region, for the week ending February 7:
- New Listings increased 25.4% to 1,496
- Pending Sales increased 14.3% to 881
- Inventory decreased 5.1% to 12,104
For the month of January:
- Median Sales Price increased 8.5% to $195,000
- Days on Market increased 8.6% to 101
- Percent of Original List Price Received increased 0.2% to 93.7%
- Months Supply of Inventory remained flat at 2.9
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.