The Minneapolis Area Association of Realtors published this weeks report of the Twin Cities Real Estate Market.
The new listings broke last years figures year over year, by 15 homes or 1.2%. I don’t know if this is going to break into a trend or if this is just do to our mild weather this year… These new listings were running lower than last years figures until now. It is not at a level to be alarmed by at all, we can absorb additional inventory.
Pending Sales are way up which more than compensates for that little of increased inventory. Pending Sales are 49.5% higher than this last time last year. With than in mind – it is good to see more new listings. If you have been putting off selling but want to, now would be a good time to put your home up for sale. (call me first of course!)
In the Twin Cities region, for the week ending February 25:
• New Listings increased 1.2% to 1,250
• Pending Sales increased 49.5% to 957
• Inventory decreased 23.5% to 17,755
February’s figures should come out next week and it will be interesting to see if the seller’s are getting closer to their asking price – we should begin to see prices stabilizing soon.
- Twin Cities Weekly Real Estate Market Update – week ending Feb 18 2012 (craigkamman.com)