For Week Ending September 8, 2018
Changing demographics, income levels, corporate growth and natural disasters all affect residential real estate markets. Home prices in Seattle and San Francisco have increased amidst e-commerce and technology success stories, while listings and sales decline precipitously when a hurricane strikes. This week, we are reminded of the destruction delivered by Hurricane Harvey to Houston at this time last year. From Katrina to Sandy to Maria to Florence, housing markets have bent but remain unbroken.
In the Twin Cities region, for the week ending September 8:
- New Listings increased 3.8% to 1,755
- Pending Sales decreased 2.3% to 1,048
- Inventory decreased 7.2% to 12,213
For the month of August:
- Median Sales Price increased 6.3% to $268,000
- Days on Market decreased 16.7% to 40
- Percent of Original List Price Received increased 0.7% to 99.2%
- Months Supply of Inventory decreased 3.8% to 2.5
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.