With the final week of the third quarter in the books, buyers posted solid gains over last year’s activity levels while sellers listed fewer properties on the market. As is typical for this time of year, expect some seasonal changes to start taking hold. Market activity may slow from one month to the next but should still show favorable year-over-year progress. The lending climate improved even more last week as interest rates dipped below 4.0 percent for the first time ever.
In the Twin Cities region, for the week ending October 1:
• New Listings decreased 21.0% to 1,219
• Pending Sales increased 32.7% to 926
• Inventory decreased 22.8% to 23,177
For the month of September:
• Median Sales Price decreased 6.0% to $156,000
• Days on Market increased 4.6% to 137
• Percent of Original List Price Received increase 0.5% to 91.2%
Local Market Updates:
The Crystal Area:
There are 44 ACTIVE LISTINGS. There was 1 NEW LISTING last week. There were 3 PENDING LISTINGS. There was 1 SOLD LISTING.
The Mounds View Area:
There are 24 ACTIVE LISTINGS. There were NO NEW, NO PENDING and NO SOLD homes this week.
The Cottage Grove Area:
There are 15 ACTIVE LISTINGS. There was 1 NEW LISTING last week. There were NO PENDING and NO SOLD homes.
To read more about the local market check out The Skinny.
