Tuesday, September 6, 2016

Weekly Market Activity Report For Week Ending August 27, 2016

If residential real estate were a wager to close out the summer golf season,
prospective buyers would still be waiting impatiently for prospective sellers to take
the putt on the final hole. Yet inventory continues to shrink, as summer vacations
end and kids return to school. If the taken putt were to somehow land in the cup
and increase inventory, a legendary celebration would occur that might even make
a golf course gopher dance.

In the Twin Cities region, for the week ending August 27:
• New Listings decreased 8.0% to 1,411
• Pending Sales increased 0.3% to 1,174
• Inventory decreased 17.0% to 14,454

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: September 6, 2016 • All comparisons are to 2015

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