Mpls Area Association of Realtors Weekly Update

Here's the latest from Mpls Area Association of Realtor.  The message remains the same - Low Inventory.  If you  know of someone thinking of selling in the next 6 months, let me know.
 
There's no dainty tiptoeing through the tulips this spring, as market flower fields speculation.  Sales & new listings are up, and hope for a fluorescent spring market is flourishing.  An increase in inventory is the desire at this point in the season, as more properties for sale should nudge first-time home buyers to sow their fledgling seeds in the housing market and encourage move-up buyers to say goodbye to familiar flower beds in favor of an upsized plot across town.

In the Twin Cities region, for the week ending April 12:

• New Listings increased 19.9% to 1,925

• Pending Sales increased 1.8% to 1,157

• Inventory decreased 2.4% to 13,736

For the month of March:

• Median Sales Price increased 7.6% to $190,000

• Days on Market decreased 11.1% to 96

• Percent of Original List Price Received remained flat at 95.0

• Months Supply of Inventory decreased 6.1% to 3.1

Property Taxes

Well, it's that time of year.  You've probably gotten your new tax statement.  Here's a couple of Since the MN Property Tax is frequently misunderstood, I thought I would post these fact sheets from the MN Department of Revenue.  Check it out.  And of course, if you would like a market on your house to determine it's Real Market Value, not it's Taxable Market Value, let me know - I'd be happy to run some numbers.

Understanding Property Taxes 
How the Assessor Estimates your Value

Well, I've been on vacation for a few weeks, but I can see that the market hasn't.  We are in dire need of inventory.  If you or anyone you know is looking to sell n the next 3-6 months, give me a call.

Housing starts haven't been quite as robust as forecast, climatological factors have chilled demand in many places and dramatic declines in foreclosure activity has become the norm in several housing markets. These factors can sometimes pull down overall sales numbers, so it's important to dig beneath the headlines.  All of this looks and feels like a natural part of the transition toward a healthier marketplace. Prices are still experiencing upward pressure, and sellers are still receiving competitive offers.

In the Twin Cities region, for the week ending February 15:

• New Listings decreased 2.9% to 1,162

• Pending Sales decreased 8.4% to 816

• Inventory decreased 9.7% to 11,965

For the month of January:

• Median Sales Price increased 12.4% to $179,850

• Days on Market decreased 12.3% to 93

• Percent of Original List Price Received remained flat at 93.5

• Months Supply of Inventory decreased 15.6% to 2.7



The Winter Sun   January 4, 2014

Well, I haven't posted for a bit.  With the holidays & then the hibernation, caused by the polar vortex, I was out of blogging until the January thaw hit.  But we all are back at it & while last week's sales were soft, due to the week long holiday for New Year's that many people took, I feel that 2014 will be a good year.  As I continue to tell people that ask, I am "cautiously optimistic".  Barring no major bad economic news or world events, I believe that the real estate market will continue to improve slowly in the Twin Cities.  I don't foresee a quick uptick in real estate prices, but rather a slow, steady improvement.   Have a Happy & Healthy 2014!
Below is the latest from Mpls Area Association of Realtors.

It's the time of year when housing statistics take a back seat to the resolve associated with a fresh calendar year. Diligent tracking of new listings and pending sales counts tends to give way to weight loss plans and personal financial planning. And you know what? That's just great! Spending some time focusing on self just may help make 2014 a banner year to match 2013. But if you want to take a quick glance, the data is here for your perusal. Here's to another great year! In the Twin Cities region, for the week ending January 4: • New Listings decreased 18.7% to 678 • Pending Sales decreased 12.4% to 507 • Inventory decreased 4.9% to 12,368  For the month of December: • Median Sales Price increased 13.7% to $191,000 • Days on Market decreased 20.4% to 86 • Percent of Original List Price Received increased 0.9% to 94.6%  • Months Supply of Inventory decreased 15.6% to 2.7

Check out this article from Houzz.com.  It's got some great decor ideas.  For yourself or a gift.
10 Beautiful Decor Gifts to Make on the Cheap

Here's today's report from Mpls Area Association of Realtors.  Inventory levels remain low with only a 3.6 month supply on the market.    It will most likely stay that way thru the end of the year.  While there won't be many buyers out there during December, the ones out there will be "Ready, Willing, & Able". 

As the end of the year approaches, market futurists will either put on their overly cheery, poinsettia-colored glasses or turn into a bunch of dreary Nostradamus Nellys. The wise analyst will tune out extremes and embrace seasonally appropriate slowdowns as a sign of normal market activity while looking with anticipation to what will likely be continued moderate recovery in 2014. Watch for light gains in inventory, quieter pending sales activity and more sedate market times.

In the Twin Cities region, for the week ending November 23:
• New Listings increased 46.6% to 893
• Pending Sales increased 42.8% to 841
• Inventory decreased 3.6% to 15,008

For the month of October:
• Median Sales Price increased 11.4% to $194,900
• Days on Market decreased 27.2% to 75
• Percent of Original List Price Received increased 1.4% to 95.8%
• Months Supply of Inventory decreased 10.0% to 3.6

Mpls Area Association of Realtors Latest

Here's the latest from Minneapolis Area Association of Realtors. Inventory is still low.  If you 're thinking of selling, let me know.    Holiday decorations have debuted in department stores across the nation (really?), and their mere presence just might affect housing activity for those prone to a good winter hunker. Comparisons to year-ago levels will show improvement and recovery, even as general activity will likely slow through the rest of 2013. With rates seemingly in a continuous go-low zone, the thrifty buyer and willing seller will still meet for transactional tea.    In the Twin Cities region, for the week ending October 26: • New Listings increased 16.4% to 1,209 • Pending Sales increased 10.4% to 974 • Inventory decreased 3.1% to 16,211 For the month of September: • Median Sales Price increased 11.7% to $195,000 • Days on Market decreased 29.7% to 71 • % of Original List Price Received increased 1.7% to 96.4% • Months Supply of Inventory decreased 14.0% to 3.7