At this time of year, there tends to be a final push to get a housing deal done before a natural switch in focus toward the likes of back-to-school needs, home preparation for colder weather and even pre-planning for winter holiday and leisure travel. Although there doesn’t appear to be a huge national increase in sales compared to last year, there also isn’t any overt letdown. Residential real estate is healthy now and should continue to be healthy into the fall and winter seasons.
In the Twin Cities region, for the week ending September 1:
• New Listings decreased 1.4% to 1,291
• Pending Sales increased 0.4% to 1,217
• Inventory decreased 7.6% to 12,438
For the month of July:
• Median Sales Price increased 6.6% to $268,000
• Days on Market decreased 17.4% to 38
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Homes For Sale decreased 7.4% to 2.5
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