With October just around the corner, 2012 has certainly flown by. The things to be watching for this fall are the same things you’ve likely been watching all year. Changes in sales levels, active listings, market times, seller concessions and, of course, home prices have taken center stage. To showcase just one, home prices may moderate on a month-to-month basis but should continue to demonstrate resiliency in a year-over-year sense. While the economy has been sending some mixed signals lately, one aspect of this recovery remains convincing: housing will be a net contributor.
In the Twin Cities region, for the week ending September 22:
• New Listings decreased 1.1% to 1,295 • Pending Sales increased 22.8% to 1,078 • Inventory decreased 29.4% to 16,428
For the month of August:
• Median Sales Price increased 14.8% to $178,000 • Days on Market decreased 23.9% to 107 • Percent of Original List Price Received increased 4.2% to 95.1% • Months Supply of Inventory decreased 41.1% to 4.2