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
