Weekly Market Activity Report
For Week Ending May 12, 2012
Publish Date: May 21, 2012
All comparisons are to 2011
Houses are just things. Boxes waiting to be filled. In the hands of caring, nurturing
citizens, those simple boxes become homes that create memories and fortify
communities for generations. This May, more than 13,000 REALTORS® rallied at the Washington Monument to preserve the American Dream of homeownership. Some components of the dream are being threatened by budget pressures and
market realities. But homeownership is very much alive and well, as more than
three out of five residencies are owner-occupied in the U.S. Moreover, buyer
demand has been impressive throughout the year. As Franklin D. Roosevelt
famously stated: "A nation of homeowners is unconquerable." Our response in
2012: Fill the box!
In the Twin Cities region, for the week ending May 12:
• New Listings decreased 11.8% to 1,485
• Pending Sales increased 18.9% to 1,159
• Inventory decreased 28.3% to 17,761
For the month of April:
• Median Sales Price increased 12.1% to $162,500
• Days on Market decreased 15.1% to 135
• Percent of Original List Price Received increased 3.6% to 93.4%
• Months Supply of Inventory decreased 42.4% to 4.7.
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