With the Labor Day slowdown in the mix for the current round of numbers, new listings were down 21.2 percent compared to the 12.9 percent average decline over the past three months. At 1,248 new homes, that now marks 14 consecutive weeks of year-over-year declines in new listings. Inventory levels were also down 21.2 percent to 23,481 active listings, marking 30 consecutive weeks of declines.
Conversely, buyer activity was up 53.0 percent over the same week last year. That’s a fairly hefty increase, but we can’t call it a one-week anomaly because the three-month average shows an impressive 41.7 percent average increase over the equivalent three months in 2010. The 823 purchase agreements mark 18 consecutive weeks of year-over-year increases in pending sales.
The Percent of Original List Price Received and Months Supply of Inventory metrics suggest a slowly changing landscape.
Twin Cities Market Update:
The Cottage Grove Area:
There are 13 ACTIVE HOMES on the market today. There were 3 NEW LISTINGS. No pending listings and 1 SOLD this past week.
To read more about the local market check out The Skinny.