With the exciting sales pace of summer behind us, and focus now shifting inward toward family, school and other interests for many Americans, the numbers will start to dip in most markets. Seasonal shifts can be a drag, but it can also mean opportunity. Bargain hunters, first-time buyers, empty nesters, investors and younger buyers with no school-aged children are among the crowd that are not necessarily framed by the summer months. New construction is inching upwards, and the national unemployment rate dropped below 6.0 to 5.9 for the first time since 2008, so there’s still plenty of rosy attitude in a balanced market.
In the Twin Cities region, for the week ending September 27:
- New Listings decreased 1.3% to 1,431
- Pending Sales decreased 14.5% to 945
- Inventory increased 10.0% to 18,753
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.