Minnesota Real Estate Weekly Update

For the week ending December 22nd, the Twin Cities saw 980 new properties come onto the market. This is unusually high, an increase of 17% compared to 2007. Pending sales increased from the previous week, with 461 offers being accepted. This is only a 9.3% drop from the exact same time in 2006. Total inventory levels remained at 28,062. This is about 600 properties less than the previous week, but still an increase of over 22% compared to 2006.

In spite of these slugggish numbers, The Minnesota Real Estate Team is excited about the upcoming year. Between our weekly radio show on 100.3 KTLK, FM, and our increased web presence with www.Minnesotas-real-estate.com, the team is having continued success in helping sellers get their homes sold.

Please contact us at 952-223-1150 to learn more about the marketing plan that made The Minnesota Real Estate Team the #1 REMAX Team in Minnesota and Wisconsin for 2006 and 2007!

Look for another real estate update next week.

Minnesota Real Estate Weekly Update

For the week ending December 15th, there were 1,213 new listings put onto the market here in the Twin Cities area. This is an increase of 8% compared to the exact same time in 2006. Only 408 properties went pending, a drop of a whopping 27% compared to 2006. Currently, there are 28,651 total properties on the market, an increase of over 14% compared to 2006. Lastly, there are 13.44 houses on the market per one buyer.

As always, The Minnesota Real Estate Team is here to help you with all of your buying and selling needs. We were the #1 REMAX Team in Minnesota for both 2006 and 2007.

Look for another real estate update next week!

Minnesota Real Estate Weekly Update

For the week ending Dec 8th, the Twin Cities saw overall inventory levels shrink to 29,444 active listings. This is still however a 12.9% increase from this same time in 2006. 1,355 new listings went on the market, also an increase of 2.3% from 2006. Pending sales remain very, very low, at 468 total for the week. This is a 22.8% drop from 2006.

Currently there remains 9.3 months of inventory on the market. This is the amount of time it would take for all homes on the market to sell. This is a dramatic 32.8% increase from 2006.

Overpriced listings continue to sit and sit. Without an aggressive marketing plan, correct pricing and staging, your home will not sell in this market.

Contact our team, The Minnesota Real Estate Team! We are the #1 Real Estate Team in Minnesota with 300 homes sold in 2007! Call 952-223-1150 or email us today. We are here to help you with all of your real estate needs!

Minnesota Real Estate Weekly Update

For the week ending December 1st, the Twin Cities saw 1,485 new listings go onto the market. This is an increase of 4.5% from 2006 at the exact same time. Pending sales came in at 533, down 10.6 % from 2006. There are currently 29,949 listings on the market, up 12% from 2006. The average Days on Market (DOM) is at 148 days. This is an increase of 12.4% from the same time in 2006.

Sellers continue to face steep competition with the abundance of properties on the market. Price and condition remain paramount in this market.

This past week the national REMAX rankings came out, with The Minnesota Real Estate Team coming in 49th out all teams in the country. We again are the only Minnesota or Wisconsin team in the Top 100. For more info on how we can help you or someone you know, call 952-223-1150 or email us today!

Look for another real estate update next week!

Minnesota Real Estate Weekly Update

For the week ending November 24th, the Twin Cities saw a huge decline in pending sales. There were only 329 newly signed purchase agreements this past week, a decline of over 32% from this same time in 2006. 910 new listings went onto the market, an increase of 5.1% from 2006. Overall inventory levels remained at 30,249. This is an increase of almost 11% compared to the exact same time in 2006. Lastly, the supply demand ratio came in at a whopping 13.44. This means there are 13.44 homes on the market for every one buyer. This is an increase of 34% compared to the same time in 2006.

The Minnesota Real Estate Team still continues to bring results to our sellers and buyers. With 300 sales in 2007, we are gearing up for an even stronger 2008. Please contact us with any questions at all! Look for another real estate update next week!