Let the race to the end of the year begin. With 2012 just around the corner, buyers continued to exceed their November 2010 purchase volumes. Sellers weren't so keen, posting fewer newly-listed properties on the MLS than at this time last year. With roughly 87.5 percent of 2011 data in the books, the clever observers will start snapping sneak peeks of annual statistics and watching YTD numbers a little closer than usual.
In the Twin Cities region, for the week ending November 19:
• New Listings decreased 18.6% to 938
• Pending Sales increased 30.5% to 805
• Inventory decreased 21.8% to 20,796
For the month of October:
• Median Sales Price decreased 9.6% to $154,500
• Days on Market decreased 0.6% to 134
• Percent of Original List Price Received increased
0.9% to 91.2%
• Months Supply of Inventory decreased 27.8% to 6.3
The attached Weekly Market Activity Report is produced by the
Minneapolis Area Association of REALTORS® (MAAR) for
REALTOR® members and interested parties on a weekly basis.
Use it to further your understanding of the Twin Cities 13-county
residential real estate marketplace. You may also find it useful to
explore MAAR's interactive market analytics tool, The Thing,
and read MAAR's blog, The Skinny.
Mark Allen, RCE, CIPS, CRS
Chief Executive Officer
Minneapolis Area Association of REALTORS®
952.988.3134
http://www.mplsrealtor.com/
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