With the exciting sales pace of summer behind us, and focus now shifting inward
toward family, school and other interests for many Americans, the numbers will
start to dip in most markets. Seasonal shifts can be a drag, but it can also mean
opportunity. Bargain hunters, first-time buyers, empty nesters, investors and
younger buyers with no school-aged children are among the crowd that are not
necessarily framed by the summer months. New construction is inching upwards,
and the national unemployment rate dropped below 6.0 to 5.9 for the first time
since 2008, so there's still plenty of rosy attitude in a balanced market.
In the Twin Cities region, for the week ending September 27:
• New Listings decreased 1.3% to 1,431
• Pending Sales decreased 14.5% to 945
• Inventory increased 10.0% to 18,753
For the month of August:
• Median Sales Price increased 5.3% to $219,000
• Days on Market decreased 2.9% to 68
• Percent of Original List Price Received decreased 0.7% to 96.3%
• Months Supply of Inventory increased 18.4% to 4.5
Source: Minneapolis Area Association of Realtors
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