With some September data in the mix, seller activity showed a continuation of its intermediate-term holding pattern, with 14.3 percent fewer listings than the same week in 2010. The 1,313 new listings were more or less on pace with their 3-month 12.0 percent average decline. Similarly, buyer activity continued to post large gains over the same time in 2010 with it’s slowdown.
This time, Twin Cities home buyers entered into 976 purchase agreements or 35.6 percent more than the same week last year. Shrinking inventory levels can be an important market signal. There are currently 23,849 active listings from which buyers can choose, 20.9 percent fewer than last year at this time.
As supply and demand attempt to find neutral ground, sellers are making fewer concessions in order to sell their homes.
Twin Cities Market Update:
The Elk River Area:
There are 334 ACTIVE LISTINGS. There were 21 NEW LISTINGS last week. There were 10 PENDING LISTINGS. There were 5 SOLD LISTINGS.
The Crystal Area:
There are 56 ACTIVE LISTINGS. There were 2 NEW LISTINGS last week. There were 3 PENDING LISTINGS. There were 2 SOLD LISTINGS.
Coon Rapids Townhouse Market Update:
There are 107 active townhouses on the market today. There were 8 new listings, 4 pending homes, and 6 sold this past week.
The Mounds View Area:
There are 25 ACTIVE LISTINGS. There was 2 NEW LISTINGS last week. There were 3 PENDING LISTINGS. There were no SOLD listings.
The Buffalo Area:
There are 100 active homes on the market today. There were 6 new listings, 7 pending and 1 sold this past week.
To read more about the local market check out The Skinny.
