At least once a quarter I like (well, like might be too strong a word) to sit down and take some time to just go over the local market numbers.  Some of the numbers I've looked at recently I'll share in this blog entry.  Why?  Because I'm a numbers guy?  Not really - far from it actually.  I just find it helps to round out my own knowledge and I find that clients appreciate it when I can talk specifics with them instead of just speaking in generalities.

The following data is broken out in two categories - number of new listings and number of pending sales for the entire 13 County Metro area from January 2003 to January 2008.  I have also supplied the numbers for my local counties - Scott and Dakota.  When sitting down with clients and talking about pricing their home correctly, I like to have them look at the number of pending sales compared to new listings for the year 2003 as opposed to 2007.  Dakota County, for example - there were a total of 10,883 new listings in 2003 and a total of 7,860 were marked pending over the course of the year - that's close to 70%.  In 2007, there were 12,298 new listings of which only 5,490 were marked pending over the course of the year - less than 50%.  Sobering, but sellers appreciate the concrete facts.

There are a ton of other numbers that could be considered as well - this is just a sampling.

Of course, to keep my local MLS happy and to be in compliance I am giving credit where credit is due.  The following data is:

Based on information from the REGIONAL MULTIPLE LISTING SERVICE OF MINNESOTA, INC for the period January 2003 through January 2008.