The Skinny

Get The Skinny on the Twin Cities Real Estate market:

http://www.youtube.com/watch?v=VwdCVLCS82A

Market Update

The 1,719 new listings for the week ending June 27 is 18.9 percent less than a year ago. The 26,043 total listings available is 21.3 percent less than last year. However, the 1,121 pending sales for this week excels last year by a giant 31 percent.
Additional metrics worth paying attention to this month:

• Supply-Demand Ratio: 4.9
• homes per buyer; 32.6 percent below last year; lowest since 2005.
• Days on Market Until Sale: 140; seemingly high but crawling down to a pre-bubble level.

Housing market improvement has been significant in the lower price ranges, while homes priced above conforming loan limits still face significant challenges. With fewer homes available than last year, the number of days on market dwindling, and the clock ticking on government incentives, the buyer advantage is not as great as it once was.