Another week in the books arrived with another strong showing from buyers, who ramped up their purchase activity this round. Seller activity fell short of the same week last year. The net result is that inventory is continuing to drop compared to a year ago.
Balance is still the name of the game here and right now we are heading in the right direction, with the Months Supply of Inventory currently sitting at 6.8, the lowest September mark since 2004.
In the Twin Cities region, for the week ending October 15:
• New Listings decreased 17.5% to 1,166
• Pending Sales increased 35.0% to 794
• Total available inventory decreased 21.2 percent to 22,374
Local Market Updates:
Cottage Grove Area:
There are 13 ACTIVE LISTINGS. There were NO NEW LISTINGS last week. There were NO PENDING and NO SOLD homes last week.
To stay current on the local market, check out The Skinny.