Weekly Housing Report Minnesota 11-19-2012

By
Real Estate Agent with Luke Team Real Estate

 

Weekly Market Activity Report

 

For Week Ending November 10, 2012

Publish Date: November 19, 2012 • All comparisons are to 2011

 

Housing continues to be a bright spot in the national economy. Locally, we

 

enjoyed more sales and additional seller activity. As prices firm up, some sellers

 

will be lifted out of unenviable positions while others will receive a confidence

booster. That's a good thing, since buyers at some price points are struggling to

find inventory. Additional evidence of turnaround will come by way of days on

market, the average ratio of sold to list price and absorption rates generally under

five months.

In the Twin Cities region, for the week ending November 10:

• New Listings decreased 9.0% to 1,015

• Pending Sales increased 11.3% to 883

• Inventory decreased 29.1% to 15,007

For the month of October:

• Median Sales Price increased 14.8% to $175,000

• Days on Market decreased 25.3% to 103

• Percent of Original List Price Received increased 3.5% to 94.5%

• Months Supply of Inventory decreased 40.5% to 3.7

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