The kids are tucked into schools, harvest festivals and fall equinox parties are underway, and residential real estate markets are entering a new season with strong fundamentals and healthy levels of activity. While it is sensible to monitor reputable news sources that report on housing with respectable statistics to back claims, it is also important to stay grounded in the reality that we continue to enjoy a prosperous time in real estate.
In the Twin Cities region, for the week ending September 15:
• New Listings increased 19.5% to 1,836
• Pending Sales increased 4.8% to 1,195
• Inventory decreased 6.3% to 12,475
For the month of August:
• Median Sales Price increased 6.3% to $268,000
• Days on Market decreased 16.7% to 40
• Percent of Original List Price Received increased 0.7% to 99.2%
• Months Supply of Homes For Sale decreased 3.8% to 2.5
