For Week Ending March 9, 2019

New listings and overall housing inventory are still proceeding slower than last year in many markets across the U.S., and they are mostly trailing activity for last year, which was already rather low. Sales have also been slower than last year at this time in areas with lingering winter weather, but the thaw is on. That may present a new set of difficulties for communities that have experienced an abundance of rain and snow over the last few months.

In the Twin Cities region, for the week ending March 9:

• New Listings decreased 8.6% to 1,304
• Pending Sales decreased 16.2% to 917
• Inventory decreased 6.2% to 8,117

For the month of February:

• Median Sales Price increased 6.2% to $265,500
• Days on Market remained flat at 69
• Percent of Original List Price Received decreased 0.3% to 97.7%
• Months Supply of Homes For Sale remained flat at 1.7

All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending March 2, 2019

Sales totals have been mixed across the nation and dependent on what has been a considerably persistent wintry mix in the Great Plains, Midwest and Northeast. While this time of year brings unpleasant weather to all parts of the country, it has less impact on southern and western states. While there is no true national real estate market, overarching trends continue to be higher prices and more inventory, especially west of the Rocky Mountains. Let’s look more closely at what is happening locally.

In the Twin Cities region, for the week ending March 2:

• New Listings decreased 20.0% to 1,257
• Pending Sales decreased 13.3% to 923
• Inventory decreased 5.5% to 8,009

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending February 23, 2019

Two years ago, Millennials (born between 1981 and 1996) passed older generational groups to account for the most new mortgages. Today, Millennials also account for the most total dollar amount of those mortgages. Given the state of ongoing median sales price increases in the majority of the country, this should not come as a surprise. And given the positive state of the U.S. economy, finding the correct balance between positive sales figures and sales prices will be a dominant theme of 2019.

In the Twin Cities region, for the week ending February 23:

• New Listings decreased 25.0% to 949
• Pending Sales decreased 12.6% to 866
• Inventory decreased 3.0% to 8,093

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending February 16, 2019

The National Association of REALTORS® has reported in the last month that national existing-home sales and pending sales are both down in year-over-year comparisons, but that has not necessarily been a constant from market to market. While weather-related events have hampered some of the necessary machinations of making home sales, buyers have shown determination toward achieving their homeownership goals. This week has shown some sales strain in many markets, but spring is just around the corner.

In the Twin Cities region, for the week ending February 16:

• New Listings decreased 20.5% to 1,018
• Pending Sales decreased 10.5% to 810
• Inventory decreased 2.5% to 8,043

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

For Week Ending February 9, 2019

For the third of four weeks, it is worthwhile to mention the weather when discussing residential real estate in large portions of the U.S. After a relatively quiet December and January, February has turned in some impressively cold and snowy days that have stalled some buying and selling actions. That said, housing markets are proving to be resilient in the face of predictions of a tougher year for the industry. It’s early, but economic fundamentals remain positive.

In the Twin Cities region, for the week ending February 9:

• New Listings decreased 17.4% to 1,135
• Pending Sales decreased 13.9% to 765
• Inventory increased 1.2% to 7,966

For the month of January:

• Median Sales Price increased 6.1% to $259,000
• Days on Market decreased 5.8% to 65
• Percent of Original List Price Received increased 0.1% to 97.0%
• Months Supply of Inventory increased 6.7% to 1.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From The Skinny Blog.