August Market Update… holding steady but also going up

Sales, prices and inventory are holding pretty steady compared to the last couple months… but also going up compared to previous years.

For instance, pending sales rose dramatically through May… holding steady in June-July-August.

AUG2013-pending4yr

However, when you look at August figures since 2006, it is the highest it has been any year… with significant increases every year since 2010.

AUG2013-pending8yr

Total inventory of homes available for sale is still incredibly low, with steady sales keeping the months supply of inventory low at 3.6 months… it is still a strong seller's market.

AUG2013-inventory8yr

Even though total listings are low and new listings are taking their traditional slide down after peaking in May…

AUG2013-new listings4yr
…August new listings are still the highest they have been since 2009.

AUG2013-new listings

Traditional sellers are getting back into the market as the number of foreclosures and short sales drop.

AUG2013-new listings by type

The figures above are based on statistics for the combined 13-county
Twin Cities metropolitan area released by the Minneapolis Area
Association of Realtors, with the historical chart coming directly from them.

Never forget that all real estate is local and what is happening in
your neighborhood may be very different from the overall metro area.

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Sharlene Hensrud, RE/MAX Results – EmailTwin Cities Real Estate Market

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I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

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