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

“The September sales party continued for the week ending September
27, as pending sales jumped by a whopping 58.4 percent from 2007.
The extravagant nature of these sales increases will not likely continue
through the fall, given the current economic uncertainties and an
expected downward trend in consumer confidence. New listings also
increased for the same time period, bumping up 9.9 percent from the
same week last year—the first year-over-year increase in new listings
since early July. Total inventory remains significantly down; there are
roughly 3,000 fewer homes for sale now than at this time in 2007.
This week’s edition of the MAAR Weekly Market Activity Report
features updated figures for several important metrics. The Supply-
Demand Ratio (SDR)—a measurement of the number of homes for
sale for each projected buyer—stood at 9.79 for October, down slightly
from last October. The Percent of Original List Price Received at Sale
dipped slightly to 92.2 percent in September, while the Average Days
on Market Until Sale increased to 145, up 2.7 percent from last
September.”

Market Report for the Twin Cities Area

Market Report for Minneapolis

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