Twin Cities Real Estate Market Activity Report - WE 4/19

Twin Cities Real Estate Market Activity Report

With the final days of the tax credit ticking away, buyers and sellers are hitting overdrive in an attempt to cash in on the credit’s considerable incentives.

For the week ending April 10 there were a whopping 2,527 new listings, a huge jump of 47.9 percent over the same week in 2009. Only 28 percent of these are re-lists of properties that have already been on the market in the last year (the number was 33 percent a year ago at this time), so we know that many of these listings are brand new.

Pending sales were a little closer to year-over year figures, with the 1,084 signed purchase agreements just 3.6 percent above 2009 numbers. And proving the axiom that “Everything Rises Must Converge” the number of active listings is finally higher than it was last year. That’s the first time that’s happened since April 2008.

Two other important numbers this week:

Housing Affordability Index: At 206 this has dropped 5.5 percent from 2009. However, this number is still the highest it has been in several years.

Months Supply of Inventory: The 6.5 months of housing out there is the lowest it has been in several years.

Get the latest MLS listings at MN-TwinCities.com and ChadElliot.com.  Personalized searches and saving.  Set up your own email notifications to see when new homes come on the market!

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Monthly Skinny - April

Twin Cities Monthly Skinny Recap for April
For the third month in a row we have seen a month over month in price gains. Sellers are getting offers closer to there asking price and there are almost a quarter less foreclosures currently on the market. Are things getting better?



Check out MN-TwinCities.com for more information on the Minneapolis / St. Paul Real Estate markets and trends. Or contact Chad Elliot at chadelliot@kw.com for a personal analysis of your home.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Market Activity Report WE 4/12

Twin Cities Market Activity Report

Minneapolis / Saint Paul Real Estate

The usually sproingy spring market is slowly slipping back into place after a few years of squish. Pending sales continue to outpace weekly year-over-year figures. The 1,122 purchase agreements signed during the week ending April 3 were 11.8 percent above last year.

Active listings have slowly risen all year and now have surpassed where the market stood at this point last year by half a percentage point. (That's the only plus sign you'll see on page 4 of the report.) Two other new values to take a look at this week: Days on Market Until Sale (page 5) has dropped to its lowest point in years. It now takes an average of 130 days to get a house sold in the Twin Cities.

Percentage of Original List Price Received at Sale (page 6) is moving in the opposite direction, rising 2.7 percent over last year. This should motivate sellers as we warm through spring and summer.

With the home buyer tax credit ending soon and the Spring Real Estate market heating up this is your perfect  time to look for that new home! For the latest listings in Minneapolis and Saint Paul check out ChadElliot.com. 

Source: MAAR

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Minneapolis - Saint Paul Home Tour 2010

The Minneapolis & Saint Paul Home Tour, in its 23rd year, is a celebration of city living within the cities of Minneapolis and Saint Paul, and shows, through real-life examples, what can be done to remodel and expand existing housing stock. Tour organizers report 13 percent of visitors surveyed last year were looking to buy homes. So, consider holding open houses during the tour near tour locations. See the front page of http://www.msphometour.com/ for a sneak peek.

Dates: Saturday and Sunday, April 24 and 25, 2009 (rain or shine!)

Times: Saturday, 10:00 a.m.–5:00 p.m., Sunday, 1:00 p.m.–5:00 p.m.

Cost: FREE

More Info: http://www.msphometour.com/

Source: Minneapolis Neighborhood Revitalization Program

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

Twin Cities Market Activity Report - WE 4/5

Twin Cities Market Activity Report - WE 4/5

The Twin Cities housing market continues its spring dance as the 2010 weekly numbers outpace the equivalent weeks of 2009. New listings for the week ending March 27 were at 2,240, 29.4 percent higher than during the same week last year.

Pending sales are up 13.8 percent over last year, and we once again broke the magical "1,000 margin" with 1,049 purchase agreements.

A stat to start watching closely is the ever-shrinking Supply-Demand Ratio. The ratio is squatting at 4.39 homes per buyer. That's a lot less inventory than we've seen in recent years, indicating that buyers need to move quickly to get the home they want, especially in the lower price ranges where homes are selling the quickest. - Provided by MAAR

Minneapolis / St. Paul Real Estate markets are always changing.  For updated information visit my website, ChadElliot.com or call me at (651) 795-1147

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com

FHA Changes - UFMIP increasing to 2.25%

FHA Changes - UFMIP increasing to 2.25%

You are probably all aware of the FHA changes which have been passed by Congress and will soon be in place. Deadlines are right around the corner, so here are some critical things you need to know:

– All FHA case numbers issued on or after Monday, April 5, 2010 will be subject to HUD’s increase in UFMIP to 2.25% (currently HUD’s UFMIP is 1.75%).

– The effective date falls on a Monday, therefore buyers really need to obtain their FHA case number by the preceding Friday, April 2, 2010.

– Since duplicate addresses (either the property being connected to a previous buyer, or our buyer being connected to a different property) may result in a delay in getting a FHA case number. Any FHA buyer who wants to eliminate any possibility of being charged the higher UFMIP should deliver their executed purchase agreement to their mortgage company as soon as possible - but no later then April 2nd.

CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330	Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com ChadElliot.com