Wednesday, August 17, 2016

Weekly Market Activity Report For Week Ending August 6, 2016

Housing markets across the nation have mostly reached full recovery and are even
approaching or achieving categorical highs in sales and prices, yet builders are still
focusing on higher-end homes over starter homes in order to combat high land and
building permit costs. Until there is more entry-level inventory on the market,
sustainable balance will be difficult.

In the Twin Cities region, for the week ending August 6:
 • New Listings increased 2.3% to 1,795
 • Pending Sales decreased 1.9% to 1,258
 • Inventory decreased 17.7% to 14,495

For the month of July:
 • Median Sales Price increased 6.6% to $239,900
 • Days on Market decreased 14.3% to 54
 • Percent of Original List Price Received increased 0.8% to 98.4%
 • Months Supply of Homes For Sale decreased 21.1% to 3.0

Publish Date: August 15, 2016 • All comparisons are to 2015

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