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

“Welcome back from the 4th of July weekend. Our post-4th news is
remarkably the same as our pre-4th news. New listings continue at an
atypically slow pace but pending sales are robust.

The 1,719 new listings for the week ending June 27 is 18.9 percent
less than a year ago. The 26,043 total listings available is 21.3 percent
less than last year. However, the 1,121 pending sales for this week
excels last year by a giant 31 percent.

Additional metrics worth paying attention to this month:

• Supply-Demand Ratio: 4.9 homes per buyer; 32.6 percent below last
year; lowest since 2005.

• Days on Market Until Sale: 140; seemingly high but crawling down to
a pre-bubble level.

Housing market improvement has been significant in the lower price
ranges, while homes priced above conforming loan limits still face
significant challenges. With fewer homes available than last year, the
number of days on market dwindling, and the clock ticking on
government incentives, the buyer advantage is not as great as it once
was.”

Market Report for the Twin Cities Area

Market Report for Minneapolis

Market Report for St. Paul

Market Report for Forest Lake

Market Report for White Bear Lake

Market Report for Woodbury

Market Report for Arden Hills

Market Report for Lino Lakes

Market Report for Plymouth

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