Weekly Market Report for home sales in Minneapolis

Real Estate Agent with Luke Team Real Estate

Weekly Market Activity Report The January 2010 Twin Cities housing market has shaped up to be nearly identical to January 2009. Pending sales are down slightly from a year ago, but not by much. New listings are down slightly from a year ago, but not much. Inventory is rising slowly, but not much. After the roller coaster ride the local market has experienced over the last four years, perhaps "not by much" is a welcome respite. There were 558 signed purchase agreements for the week ending January 23, down 2.3 percent from a year ago. New listings posted 1,522 units, down 0.6 percent from a year ago. The current inventory of active listings is 20,629, down 17.5 percent from a year ago. The February 2010 Supply-Demand Ratio sits at 6.99, which means there are 6.99 homes available for each buyer. That's a drop of 8.5 percent from a year ago and the lowest February mark since 2006.


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Brad Anderson

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