Twin Cities Real Estate Market Activity Report 9/2

It is official, we are through the Summer Holidays, School is back in session and the real estate market remains stable.  According to the Minneapolis Area Association of Back to School Real EstateRealtors (MAAR) for the week ending of August 23rd:

• New Listings increased 3.5% to 1,539
• Pending Sales increased 4.5% to 1,175
• Inventory increased 10.1% to 18,755

The most recent monthly report for July also provides some interesting indicators:

• Median Sales Price increased 3.4% to $215,000
• Days on Market decreased 5.6% to 68
• Percent of Original List Price Received decreased 0.7% to 96.8%
• Months Supply of Inventory increased 15.8% to 4.4

From the Realtor side of the business, we have felt the inventory levels start to creep up over the past couple of months.  The market still remains strong and homes that are in great condition and are priced right, are still seeing multiple offers – it just is not at the same rate in which we have seen in the beginning of 2014.

If you would like to review the full report provided by MAAR, click here.

About the Author

Katy Korby is the CFO of the Korby Home Team. Her passion is ensuring that our clients have an out-of-this-world experience selling their homes with the Korby Home Team. Katy comes to us with a diverse background and a unique skill set that enhances the client experience. Her attention to detail and care for people make her a wonderful asset to the team. Graduating with a degree in Theater, Katy has performed in numerous plays and most recently starred in a locally produced indie film that is being entered info film festivals around the nation. Katy’s experience in the work world include many positions within the accounting world including tax preparation, bookkeeping, and full-charge accounting. Most recently before joining the Korby Home Team, Katy was the Market Center Administrator for Keller Williams Integrity Realty in Roseville, where she was the full-charge accountant and handled budgeting and forecasting for the company as well as day to day operations and administration of an 80 person real estate office. Katy and her husband have two children, Libby and Calvin, and have lived in Como Park for almost two decades. In 2013, Katy completed the Tough Mudder 10 mile event and is a proud member of the “Finishers” group! For fun, Katy loves reading, photography and gardening and spending time with her family.