For Week Ending November 5, 2011 Published November 14, 2011
Minneapolis Area Association of Realtors
Pending home sales were off to the races as buyers eagerly
entered more contracts than during the same week in 2010.
Sellers pulled back a bit as they listed fewer new properties
than last year at this time. By and large, inventory declines
have been the 2011 tale to tell, but a handful of alternative
leading indicators suggest that the Spring 2012 market could
present a changing landscape.
In the Twin Cities region, for the week ending November 5:
• New Listings decreased 18.7% to 1,134
• Pending Sales increased 20.5% to 794
• Inventory decreased 22.1% to 21,214
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 1.0% to 91.2%
• Months Supply of Inventory decreased 28.3% to 6.3
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