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Weekly Market Report

October 7, 2013 by Adam Tita

Home prices are still rising and rates have increased incrementally. As the cement of market balance hardens, it has become more dependent on move-up and first- time home buyers. Even with tightened lending regulations, seller activity has broadened. The government shutdown should not have a major impact on national and local market housing recovery. But as we get deeper into the -ber months, it will be interesting to see if the year-over-year trends hold true, simply lessen in drama or give reason for pause.

In the Twin Cities region, for the week ending September 28:

  • New Listings increased 10.3% to 1,449
  • Pending Sales increased 12.2% to 1,106
  • Inventory decreased 5.9% to 16,282

For the month of August:

  • Median Sales Price increased 16.8% to $207,825
  • Days on Market decreased 34.0% to 70
  • Percent of Original List Price Received increased 2.0% to 97.0%
  • Months Supply of Inventory decreased 15.9% to 3.7

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

Filed Under: Weekly Report

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