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Results For Tag: market

Market Statistics

November 1, 2012 |  Article By :   | 

The Minneapolis Area Association of Realtors latest market statistics for the Twin Cities for the week ending October 20 are out.

In the Twin Cities region, for the week ending October 20:

• New Listings increased 0.6% to 1,110
• Pending Sales increased 33.3% to 1,012
• Inventory decreased 28.5% to 15,903

Minneapolis is Number Two

October 5, 2012 |  Article By :   | 

Minneapolis is number two on MSN’s list of the most liveable bargain markets in the US.  You can get a nice home in a nice neighborhood for a reasonable price, the city has major sports teams, theater, arts, parks, mass transit, people are healthy and much more.  The only major drawback they list is the cold winter.  Take a look at the link to see the full report.

Buyer or Seller Market

September 18, 2012 |  Article By :   | 

People are always asking is it a buyer or seller market.  In a buyers market prices are low and there is a lot of inventory to choose from.  In a sellers market the prices are on the rise and the inventory is limited.  Since the housing crisis, the Twin Cities has been a buyers market but it now appears that things are switching over to a sellers market.  According to the Minneapolis Area Association of Realtors, right now we have a 4.1 months supply of inventory of homes for sale.  This means that in the current market it would take 4.1 months to sell all the homes that are listed as active today.  As a rule of thumb the following numbers of months supply of inventory dictate the type of market we are in:

  • Seller’s Market = Less than 5 Months of Inventory
  • Balanced Market = 5 – 7 Months of Inventory
  • Buyer’s Market = More than 7 Months of Inventory

So, judging by the August numbers and these figures, if you ask if it is a buyer or seller market I would say we are heading into a seller market but the slow time of year is approaching so the numbers may swing back more to the balanced market.

Twin Cities Market

August 15, 2012 |  Article By :   | 

The Twin Cities market for real estate continues its upward swing.  We are coming to the end of the real selling season so the real test will be what happens in the upcoming fall and winter.  The latest numbers from the Twin Cities Area Association of Realtors:

In the Twin Cities region, for the week ending August 4:

• New Listings decreased 0.1% to 1,433
• Pending Sales increased 20.4% to 1,129
• Inventory decreased 29.6% to 17,085

For the month of July:

• Median Sales Price increased 14.2% to $179,900
• Days on Market decreased 27.8% to 105
• Percent of Original List Price Received increased 3.6% to 95.0%
• Months Supply of Inventory decreased 43.4% to 4.3