Weekly Market Report for Minneapolis Real Estate

By
Real Estate Agent with Luke Team Real Estate

Weekly Market Report
For the week ending March 5, there were 717 signed purchase agreements, a decline of 11.4 percent from a year ago when the market was stimulated by the federal home-buyer tax credit. Over the last three months, there have been almost 900 fewer signed purchase agreements than during the same period a year prior.On the supply side, sellers brought 1,845 new homes onto the market, or 19.0 percent fewer than the same week last year. The three-month average pace of listing activity was 16.6 percent slower than it was a year ago.Despite the decline in supply, there are a few other metrics that indicate challenging conditions remain for sellers. The Average Days on Market Until Sale currently sits at 157, up 16.1 percent from a year ago. Similarly, the Percent of Original List Price Received is down to 88.2 from last year's mark of 93.2.In essence, in an environment where it takes homes longer to sell, sellers should be focused on proper pricing and preparation if they want a faster sale. Although there are fewer new listings, smart pricing and marketing are more important than ever.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
Minnesota
Groups:
Lead Generation through community websites
Tags:
weekly housing market activity report for minneapolis real estate

Post a Comment
Spam prevention
Spam prevention
Post a Comment
Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
31,149

Brad Anderson

Ask me a question
*
*
*
*
Spam prevention