Inevitably, most housing markets tend to wind down at the end of each year.
There are gifts to purchase, holiday travels to plan and kids to care for during
winter break. This isn't the case for all buyers and sellers, of course, but there are
enough who follow this traditional path to create a trend view that shows creatures
not stirring. Be prepared for at least two weeks of lessened activity before things
pick up again in January.
In the Twin Cities region, for the week ending December 28:
• New Listings decreased 14.5% to 307
• Pending Sales decreased 7.8% to 400
• Inventory decreased 9.1% to 12,707
For the month of November:
• Median Sales Price increased 13.4% to $195,000
• Days on Market decreased 26.5% to 75
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 10.8% to 3.3
Source: Minneapolis Area Association of Realtors
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