Monday, January 7, 2008

A Little Update for Minneapolis

We are in the middle of a computer transition in my house so accessing a computer is spotty at best. I haven't been able to do a thorough market analysis for Minneapolis, so I will give you this quick snippet from the Minneapolis Area Association of Realtors:

"Activity in the Twin Cities housing market saw a Valley Fair-esque drop for the week ending December 29, compared to the week before. Blame Santa Claus. New listings, pending sales and total inventory all fell at least several hundred units as Twin Citizens focused on celebrating the holiday season during the 12th snowiest December on record. Due to the unique weather and the vagaries of the Christmas holiday, little meaningful context can be gleaned from the decreased numbers."

However, we can utilize some updated figures :


  • The Days on Market Before Sale increased to 158. Although this is higher than December 2006 by 4.6 percent, the figure will likely start to decrease as 2008 begins and the holiday season ends.

  • The Percent of Original List Price Received at Sale fell slightly to 91.2 as buyers exerted their seasonal power during the slow December sales month.

  • Supply-Demand Ratio for January fell to 10.46, which means there will be roughly 10.46 homes for sale for each buyer in January.

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