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Twin Cities Weekly Market Activity… by Twin Cities Homes for Sale

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Real Estate Agent with Coldwell Banker Burnet Realty MN Broker# 20588319

Twin Cities Weekly Market Activity… by Twin Cities Homes for Sale

 

 

Twin Cities Weekly Market Activity

As of May 10, 2010

 

 

                                                2010                2009                % Change

New Listings                            1,803               2,038               -11.5%

Active Listings                         26,077             26,450               -1.4%

Pending Sales                          1,469               1,120               +31.2%

Days on Market until Sale          127                   150                 -15.3%

Percent of Original Price

            Received at Sale             93.6%            90.0%              +4.0%

Supply-Demand Ratio

            (# homes /buyer)            4.39                5.02                -12.6%

Months Supply of Inventory           6.7                 7.70                -13.0%

 

NEW! Hennepin County price range breakdown for pending transactions:

                                           Current Week       Compared to last Week

$0 - $200,000                            197                             -79

$200,000 - $500,000                  160                             -35

$500,000 - 1,000,000                  27                               -4

Over $1,000,000                           8                               -4

 

What a quiet week! If you look at the numbers above, you’ll see how purchase contracts signed dropped off.  It should be only temporary, as the Federal Tax Credit program “pushed” many buyers into buying in the last two weeks of April.

As far as the inventory of homes for sale, it actually decreased this week by 1.1% from last week.  And, the pending sales in the Twin Cities dropped by 122, which is 23.9%.

So, to all the buyers out there: it’s time to get started – call me today!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Contact Marzena M. Melby, GRI, CDPE, Broker/Partner, Counselor Realty, Inc., Licensed REALTOR® in the state of Minnesota at 612-267-6798 or by email.

 Visit my website to search homes for sale in the Twin Cities and surrounding areas.

Disclaimer: The information provided herein is supplied by several sources and is subject to change without notice. Twin Cities Homes 4 Sale Blog does not guarantee, or is any way responsible for its accuracy, and provides said information without warranties of any kind, either express or implied. Entries on Twin Cities Homes 4 Sale Blog represent the opinions and ideas of the author. Twin Cities Homes 4 Sale Blog does not express the views of Counselor Realty, Inc. or its other partners or agents.

 

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Copyright © 2010 by Marzena M. Melby, All Rights Reserved

 

Comments (7)

Tom Braatz Waukesha County Real Estate 262-377-1459
Coldwell Banker - Oconomowoc, WI
Waukesha County Realtor Real Estate agent. SOLD!

Marzena

Nice market report on the Twin cities. Lots of listings

May 11, 2010 07:15 AM
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Yes, we do have a lot of them, Tom.  It provides a very good selection for the buyers.

May 11, 2010 11:42 PM
Teri Eckholm
Boardman Realty - White Bear Lake, MN
REALTOR Serving Mpls/St Paul North & East Metro

Marzena--Calls are still coming in so hopefully the tax credit is not going to affect the recovery as much as we all have feared. (Hopefully anyway! ) Nice report!

May 12, 2010 04:14 AM
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

I hope so, too, Teri.  Personally, I have been quite busy, but other agents tell  me that activity is spotty.

May 12, 2010 09:14 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Nicely written market report. Buyers have a lot of homes to choose from and rates are still low.

May 13, 2010 12:22 AM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Great infommation.  It certainly has quiieted down....but my listings are still getting some activity.  We'll see how the last part of spring goes....

May 13, 2010 12:27 AM
Marzena Melby
Coldwell Banker Burnet Realty - Richfield, MN
Realtor, Twin Cities Minnesota Real Estate

Gita - Yes, indeed.  Rates are low, and buyers nned to realize that buying a home is more affordable than ever.

Suzanne - Activity on my listings has been a little spotty; still looking for the right buyers, and our prices aver very competitive!

May 13, 2010 02:19 AM