The chase to 2013 is on, and we are pleased by the prospects ahead. Given the upward progress of the 2012 housing market, many homeowners may find that their properties will be worth more next year. That's a nice change of pace for potential sellers, and for residential real estate as a whole, and is a direct result of widespread improvements in the marketplace. Most of the positive trends we have seen in 2012 should persist into the new year. Let's take a peek at what's happening locally today.
In the Twin Cities region, for the week ending December 8:
• New Listings increased 3.0% to 942
• Pending Sales increased 12.6% to 788
• Inventory decreased 28.8% to 13,832
For the month of November:
• Median Sales Price increased 16.2% to $172,000
• Days on Market decreased 26.2% to 103
• Percent of Original List Price Received increased 3.6% to 94.2%
• Months Supply of Inventory decreased 40.0% to 3.4
Source: Minneapolis Area Association of Realtors
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