Weekly Market Activity Report
For Week Ending September 3, 2016
Publish Date: September 12, 2016 • All comparisons are to 2015
Most market trends have been steadily the same for the bulk of 2016, and there's
not much reason to expect a change as we enter the last several months of the
year. We have witnessed an overall drop in the number of days a home is on the
market before sale, that sale price is generally higher than it used to be and there
are fewer homes for sale. The one area of interest that we will be watching will be
total sales being made. As the drop in inventory continues, it stands to reason that
there will be fewer sales, but that has yet to consistently be the case.
In the Twin Cities region, for the week ending September 3:
• New Listings decreased 8.6% to 1,314
• Pending Sales decreased 6.9% to 1,114
• Inventory decreased 16.7% to 14,295
For the month of August:
• Median Sales Price increased 5.6% to $237,500
• Days on Market decreased 14.1% to 55
• Percent of Original List Price Received increased 0.8% to 97.9%
• Months Supply of Homes For Sale decreased 24.3% to 2.8