The Minneapolis Area Association of Realtors released this weeks Market Update for week ending November 26, 2011. We are continuing to see great progress in the inventory levels as we are approaching the 20,000 level not seen since 2004. Last we week the inventory dropped by 545 listings to 20,318. A few weeks ago I was hoping we would get below 20,000 by the end of the year, at this rate we should be able to see that with no problem. There is nothing magical about under 20,000 listings, it is just a benchmark we haven’t been below since 2004 and very early 2005. This should help set us in a good place beginning the 2012 season.
New Listings decreased 9.1% to 601
Pending Sales increased 46.8% to 574
Inventory decreased 22.8% to 20,318
- Twin Cities Weekly Real Estate Market Update (craigkamman.com)