Tuesday, June 4th, 2013

By Beth Braverman

To get an idea of a neighborhood’s prospects, ask local brokers if cash-only offers dominate.

NEW YORK (Money Magazine)

Six years after prices collapsed, housing has begun to climb out of its hole. So what are the best moves to make now? In a three-part series, we offer smart strategies for buyers, sellers, and owners in today’s market.

Real estate has finally started to bounce back across the country — even roar back in some places.

Low mortgage rates and pent-up demand have coaxed buyers back into the market, and homeowners who list their houses are seeing more traffic. That quaint relic of the bubble, the bidding war, has even started to reemerge in some cities.

Consider the mounting evidence that the long national real estate nightmare is over: During the past year, home prices increased in 92 of the country’s 100 largest metropolitan areas, according to data provider CoreLogic, with prices rising as high as 23% in Phoenix and 17% in San Francisco. Sales volume rose in 69 of the top 100 markets, and 35 of those showed double-digit gains.

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Monday, June 3rd, 2013

Although buyers are still in the market for higher inventory levels, sellers remain happy with their multiple-offer situations and short days on the market. As the product mix shifts away from distressed properties and towards traditional sellers, the U.S. housing market finds itself in a place it hasn’t been in a while – healthfully competitive. Pocket listings and shadow inventory provide something for the media to talk about, but for now, the market seems strong enough to hold up to any casual cannon fodder aimed its way.

In the Twin Cities region, for the week ending May 25:

  • New Listings increased 29.8% to 1,799
  • Pending Sales increased 18.8% to 1,382
  • Inventory decreased 24.6% to 14,169

For the month of April:

  • Median Sales Price increased 12.0% to $182,000
  • Days on Market decreased 28.1% to 97
  • Percent of Original List Price Received increased 2.8% to 96.0%
  • Months Supply of Inventory decreased 36.0% to 3.2

Click here for the full Weekly Market Activity Report.From The Skinny.

Posted in Weekly Report |
Monday, June 3rd, 2013

Although buyers are still in the market for higher inventory levels, sellers remain happy with their multiple-offer situations and short days on the market. As the product mix shifts away from distressed properties and towards traditional sellers, the U.S. housing market finds itself in a place it hasn’t been in a while – healthfully competitive. Pocket listings and shadow inventory provide something for the media to talk about, but for now, the market seems strong enough to hold up to any casual cannon fodder aimed its way.

In the Twin Cities region, for the week ending May 25:

• New Listings increased 29.8% to 1,799
• Pending Sales increased 18.8% to 1,382
• Inventory decreased 24.6% to 14,169

For the month of April:

• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.8% to 96.0%
• Months Supply of Inventory decreased 36.0% to 3.2

Click Here to View Full Weekly Activity Report

Posted in Weekly Market Activity Reports |
Thursday, May 30th, 2013

Jim Buchta

Kent Busek recently decided to upgrade to a bigger cabin near Detroit Lakes, and his agent quickly found an ideal place along Lake Cormorant.

But look fast, his agent warned. Featuring three bedrooms, a great view and two fireplaces, the $500,000 house was already attracting offers.

Busek, a CPA from Fargo, wasn’t surprised. “People just seem to have money,” he said. “And it’s disposable cash.”

As home sales and prices rise by double-digits in the state, the momentum is starting to reach the large and long-stagnant vacation home market across northern Minnesota, stoked in some places by buyers crossing the border from North Dakota’s booming oil fields and the farms of the Red River Valley.

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Tuesday, May 28th, 2013

Monitoring weekly data can feel like watching grass grow, especially during a busy sales environment. Most housing markets are at or near their seasonal activity apexes, so it can be difficult to remain interested in statistical lawn care. But paired with a broad perspective and overarching trends, weekly housing numbers can sharpen the keen observer’s competitive edge. As you look through this week’s most current real estate activity, keep an eye open for signs of job growth, changing interest rates and relevant policy initiatives.

In the Twin Cities region, for the week ending May 18:

• New Listings increased 20.9% to 1,855
• Pending Sales increased 24.1% to 1,313
• Inventory decreased 25.9% to 13,866

For the month of April:                                                                                   

• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.7% to 95.9%
• Months Supply of Inventory decreased 36.0% to 3.2

 

Click Here to View Full Weekly Activity Report

Posted in Weekly Market Activity Reports |