The Dog Days of Summer may be here, but the news continues to be GREAT for the housing market.  Love the increase of Median Sales Price, up 17.5% - WOW.  As for what I'm seeing, I have a couple more listings coming on the market & expect them to pop relatively quickly.  If inventory is priced right & in decent condition, IT WILL SELL (kind of "Field of Dreams"ish - build it & they will come). 

Here's Mpls Area Association of Realtors latest report.

 

Weekly Market Activity Report

Nationwide, local markets have become stable enough to withstand mortgage rate increases.  Improving job & other economic sectors have fortified real, organic housing growth.  Bargain-basement deals have given way to multiple offers, stiff bidding wars and lickety-split days on market.  Inventory may still be thin, but traditional home sellers are stepping up to the plate with new listings.  It won't be long now until the housing recovery is once again referred to as just housing.

 

For the month of June:

• Median Sales Price increased 17.5% to $210,000

• Days on Market decreased 34.5% to 74

• Percent of Original List Price Received increased 2.5% to 97.5%

• Months Supply of Inventory decreased 25.0% to 3.6

 

 

 

 

 

 

 

Well summer is in full swing & I realize that it's been awhile since I posted anything.  I was crazy busy in June - now business is manageable again.  I ran across this article that has the top Retirement cities listed.  Thought you might find it of interest.

Seven Florida cities are among the top-ranked retirement hot spots for real estate investing, according to a new report by Realty Trac. The rankings were determined based on the annual percent change in home prices as of May 2013. Dunnellon, Fla., was the top ranked city on the list, where 38 percent of the population is retirement age or older, and home prices jumped more than 31 percent over the past 12 months. Other Florida cities on the retirement list include, Naples, North Fort Myers, Punta Gorda, Sun city Center, Venice and Orange City.  Two cities each from Arizona and California also made the list as well as locations in Arkansas, Pennsylvania, Oregon and New York.
The report also finds that 40 cities nationwide had at least one-third of its population over the age of 65. Among those 40 cities, 25 posted annual increases in median home prices, and 27 had a positive capitalization rate, which indicates that rentals in those markets generate positive cash flows.
CRS Connect Blog   By Regina Ludes, Monday, 8 July 2013 - 10:43am