Minnesota Real Estate Weekly Update

There is some good news to report this week in The Minnesota Real Estate Weekly Update! Only 1,859 new properties went onto the market, a decrease of 8.3% compared to 2007. 624 properties did receive an acceptable offer and go pending, however this is a drop of 17.8% compared to 2007. Overall, there are still 29,141 active properties for sale in the Twin Cities. This is up 12.1% from the same time in 2007. Lastly, if you look at the current supply of homes on the market, it would take 8.9 months for all of that inventory to become pending or sold (if no new properties came onto the market). This is up 37% from 2007.

Year to date, The Minnesota Real Estate Team has 113 closings on the books. There is still alot of buying and selling activity taking place in this market. Buyers are however a bit "pickier," and sellers are forced to really look at price and condition. Call us today at 952-223-1150 to find out how The Minnesota Real Estate Team can help you on your new real estate move.

Look for some more real estate market numbers and the real estate update next week!

Minnesota Real Estate Weekly Update

The buyer's market continues to stay strong here in the Twin Cities. For the week ending February 9th, 2,125 new listings went onto the market, an increase of 1.9% compared to the same time in 2007. 634 properties went pending, a decrease of 14% compared to 2007, but an increase of almost 100 properties compared to last week. Overall inventory levels hovered around the 28,800 mark, still an increase of over 13% compared to 2007. Currently there is 8.9 months worth of inventory on the market. In other words, if no new properties came onto the market, it would take 8.9 months for the current supply to become pending or sold.

Our team, The Minnesota Real Estate Team continues to sell in this market. Year to date, we have 108 sales on the books. As a seller, if you want results, call us today at 952-223-1150. We are here to help you get your property sold!

Look for another real estate update next week!

Minnesota Real Estate Weekly Update

For the week ending February 2nd, the Twin Cities metro area saw 1,930 new listings come onto the market. This is a decrease of 10.2% compared to 2007. 537 properties went pending, a drop of 28.7% compared to 2007. There are 28,803 total active listings on the market as of today. This is an increase of 13.2% compared to 2007. Average market time is now 165 days, an increase of 12.2% to 2007.

Look for another market update next week!

Minnesota Real Estate Weekly Update

For the week ending January 26th, the Twin Cities metro area saw 1,706 new listings come on the market. This is a decrease of 6.1% compared to the same time in 2007. 528 properties went pending, a decrease of 16.9% compared to '07, and 28,153 properties are active on the market (an increase of 11.8% compared to '07.)

158 days on market is the average market time right now, with the supply demand ratio coming in at 10.02. This means that there are 10.02 homes on the market for every one buyer. This is up a whopping 36% from February 2007.

With a myriad of homes to choose from, historically low interest rates, and motivated sellers, this remains one of the best buyers markets in years.

Year to date, our team, The Minnesota Real Estate Team has 87 sales set to close here in 2008. Needless to say, there is still alot of buying and selling activity in this market. Our goal for 2008 is to be a Top 10 REMAX team in the United States.

For more information on how our team can help you in this market, call us today at 952-223-1150.

Look for another update next week!