Home sales in the Twin Cities continue to show strong year-over-year growth. For the week ending July 9, there were 788 pending sales, an increase of 40.2 percent from a year ago. The amount of signed purchase agreements seen in recent weeks is similar to the activity for the same weeks in the summer of 2008.
The good news is that fewer homes are being listed, which is helping to dampen any potential for an oversupply problem. Over the last three months, there have been roughly 1,400 fewer new listings than during the same period in 2010, and the inventory of available homes for sale is down 16.1 percent from this time last year.
As always, balance between buyers and sellers plus a healthy, sustainable market is the ultimate goal.
St. Louis Park & Calhoun Area Condo & Townhouse Market Update:
This week there are currently 98 ACTIVE LISTINGS for condos and townhomes on the market today.
3 NEW LISTINGS, 1 PENDING LISTING and 2 SOLD LISTINGS.
St. Paul near Como Park:
There are 105 ACTIVE homes on the market today. There were 9 PENDING LISTINGS this past week. There were 5 NEW LISTINGS this past week and 2 SOLD homes this past week.
In the Mounds View Area:
There are 26 ACTIVE LISTINGS on the market today. There were 4 NEW LISTINGS last week. There were NO PENDING LISTINGS and NO SOLD homes this past week.
Anoka & Elk River:
There were 12 NEW LISTINGS this week in the Elk River/Anoka area. There are 358 ACTIVE LISTINGS total for homes in the area. There were 16 PENDING LISTINGS and 10 SOLD homes this past week.
To read more about the local market check out The Skinny.
