The season of crisp leaves, autumn colors and, yes, pumpkin spice lattes is upon us. Just in time for the fall equinox, mortgage applications have risen according to the Mortgage Bankers Association. Though the season will likely slow things considerably in some areas, it seems that buyers are not quite ready to succumb to the cinnamon haze that is fall just yet.
In the Twin Cities region, for the week ending September 20:
- New Listings increased 10.3% to 1,621
- Pending Sales decreased 5.0% to 930
- Inventory increased 9.4% to 18,644
For the month of August:
- Median Sales Price increased 5.3% to $219,000
- Days on Market decreased 2.9% to 68
- Percent of Original List Price Received decreased 0.7% to 96.3%
- Months Supply of Inventory increased 18.4% to 4.5
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny Blog.