.

Weekly Market Activity Report - The Skinny

The Weekly Market Activity Report, produced by the Minneapolis Area Association of REALTORS, is a great tool to further your understanding of the Twin Cities real estate marketplace.

Transparency. We like it when our politicians, stock brokers and mechanics have it. But what about our housing markets? It's empowering to know that home sales were up 10.0 percent in your state, or that the average home sold for 250,000 in your city or that 20.0 percent of sales in your neighborhood were foreclosures. It allows – no – it encourages both existing and would-be home buyers to make smarter decisions, which ultimately conserves the increasingly scarce taxpayer dollar. In turn, that allows us to invest in things we value as a society like infrastructure, technology, education, research and job training.

In the Twin Cities region, for the week ending February 9:
• New Listings decreased 6.7% to 1,229
• Pending Sales increased 5.3% to 914
• Inventory decreased 31.2% to 12,225

For the month of January:
• Median Sales Price increased 14.3% to $160,000
• Days on Market decreased 24.1% to 107
• Percent of Original List Price Received increased 2.5% to 93.5%
• Months Supply of Inventory decreased 42.0% to 2.9

To read more please visit THE SKINNY

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »