Minnesota Real Estate Weekly Update

The end of September is already here, with Fall and cooler temperatures surely in the air. However, our local real estate market is still seeing a high level of buying activity.

For the week ending September 20th, there were 1,788 new listings put onto the MLS. This is down 5.2% from 2007 at this exact same time. Pending sales rose 42.8%, with 781 properties receiving an accepted purchase agreement.  The overall inventory level is at 31,384 listings, a 7.8% drop from 2007.

This certainly is very good news indeed for our Twin Cities real estate market. Over the last couple of months, we have consistently seen a decrease in new listings put on the market, a rise in pending sales, and the overall inventory shrinking.

We certainly are no where near a balanced market, however things certainly are moving in the right direction.

As a team, we have seen a large number of buyers taking advantage of this local market.  The team is on pace to close 500 transactions here in 2008 alone!

Call us today at 952-223-1150 to learn how The Minnesota Real Estate Team can help you with your next real estate purchase or sale!

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