Tuesday, December 23, 2014

Weekly Market Update: December 22, 2014

We have reached the time of year when year-to-date and rolling 12-month time calculations become especially reliable. Buyer and seller activity continues at a decent clip, though generally lower than the spring and summer selling seasons. With the price of gasoline where it is, holiday spending should be strong, which benefits the economy and is, therefore, also good for housing. There's plenty to be cheerful about this December.

In the Twin Cities region, for the week ending December 13: 

• New Listings decreased 12.9% to 661

• Pending Sales increased 6.6% to 679

 • Inventory decreased 2.7% to 14,268

For the month of November:

 • Median Sales Price increased 5.1% to $205,000

 • Days on Market increased 5.3% to 79

 • Percent of Original List Price Received decreased 0.7% to 94.7%

 • Months Supply of Inventory increased 8.8% to 3.7

Source:  Minneapolis Area Association of Realtors

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