The Minneapolis Area Association of Realtors has put out the Twin Cities Housing market statistics for this week. These statistics are still positive but we are now heading into the slow time of the year so time will tell if conditions hold or not.
In the Twin Cities region, for the week ending September 8:
• New Listings increased 2.2% to 1,273
• Pending Sales increased 24.2% to 940
• Inventory decreased 29.6% to 16,458
For the month of August:
• Median Sales Price increased 15.2% to $178,600
• Days on Market decreased 24.0% to 107
• Percent of Original List Price Received increased 4.2% to 95.1%
• Months Supply of Inventory decreased 42.0% to 4.1
Want to put a SOLD sign on your home, should you choose a Realtor or FSBO (For Sale By Owner)? Use a Realtor! A new survey just out by HomeGain show that 66% of sellers using a Realtor sold their homes vs. just 30% of For Sale By Owner (FSBO) sellers! 22% of the FSBO sellers ended up using a Realtor and 55% of those homes then sold. 85% of all sellers, whether their home sold or not, would use a Realtor again. Seventy-one percent of FSBOs who managed to sell their homes on their own said they would try and sell their home on their own again. Realtor or FSBO – A Realtor knows the dynamics of the market and can better assist sellers in preparing to sell their home and determining the correct price.
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