Here is this weeks Skinny on the Twin Cities real estate market from the Minneapolis Area Association of Realtors; 

“Like Adam West as Batman, the market for home sales in the Twin Cities went
POW! during the week ending August 30. For the week, there were 965
purchase agreements signed—a whopping increase of 51.3 percent from the
same week last year. That’s the highest year-over-year increase in pending
sales since we began tracking that figure on a weekly basis in 2004. Homebuying
activity is particularly heavy relative to last year due in all likelihood to

• a) the historically sluggish showing in August of last year as the credit
  crunch took hold
• b) a bevy of buyers taking advantage of the final days of FHA’s sellerfunded
  downpayment assistance program, which sunsets on October 1 of this
  year
• (c) new home buyers getting off the fence and taking advantage of the
  new home buyer tax credit of up to $7,500

This week’s edition of the MAAR Weekly Market Activity Report features
updated figures for several key metrics. Days on Market Until Sale dipped
slightly to 143 but remains up from last year by 5.8 percent. The Percent of
Original List Price Received at Sale increased slightly to 92.7 but remains down
from the healthier levels of the past several years. The Housing Affordability
Index increased to 151, thanks to falling prices and interest rates.
The Months Supply of Inventory fell to 9.9 months. This means it will take the
current crop of properties for sale approximately 9.9 months to completely sell
through, given current sales rates. This is dead-even with this time last year,
another indication that the market isn’t continuing to shift in the buyer’s favor
anymore for the time being. A balanced market is thought to have a 5- to 6
month supply rate.”

Market Report for Minneapolis

Market Report for St. Paul

Market Report for Forest Lake

Market Report for Woodbury

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