It is typically during the final weeks of a calendar year when residential real estate activity hits its seasonal lows, even when some year-over-year comparisons show progress. Don’t be fooled by this time of year. Buyers and sellers are preparing for promising spring and summer markets. Of late, the spring market tends to get hopping before the -ary months are even complete.
In the Twin Cities region, for the week ending December 27:
- New Listings decreased 13.5% to 268
- Pending Sales decreased 9.8% to 359
- Inventory decreased 4.4% to 13,152
For the month of November:
- Median Sales Price increased 5.1% to $205,000
- Days on Market increased 5.3% to 79
- Percent of Original List Price Received decreased 0.7% to 94.7%
- Months Supply of Inventory increased 8.8% to 3.7
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.