Weekly Market Activity Report
From the North Metro Realtors Association
Select the link above or the image at the right to see the latest Weekly Real Estate Market Activity for the Minneapolis Saint Paul Twin Cities area. This Weekly Market Activity Report was created by the Minneapolis Area Association of REALTORS®. The North Metro REALTORS® Association uses it under license.
As prices and interest rate drop, homes become more affordable and obtainable to those who have at least a small down payment and a stable income.
New listings and pending sales are both down, even more than normal for Minnesota in the winter. Inventories are easing somewhat, and active listings are down. There is a slight improvement in the days on market with homes averaging right about 150 days before sale with the percent of list price actually obtained is right around 90%.
It is still a buyers market with homes becoming more affordable and the supply/demand ration projected to be 8.36 for January of 2009. That means that for every buyer, there are 8.36 houses on the market. That number was over 12 in November 2008.
Today's average interest rate fell to 5.17% for a 30 year fixed loan according to bankrate.com
Buyers: Receive a CASH BONUS of 2% of the sale price up to a maximum of $10,000.00 after closing when you purchase a home through me.
To find out more, call Patti Ann Kasper at 763-548-1418 today!
Sellers: Your home SOLD in 39 days or less GUARANTEED, or I'll pay you up to $10,000 after closing!
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Patti Ann Kasper, Your Minnesota, North Metro Twin Cities, and Lino Lakes Real Estate Expert!
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