Twin Cities Market Activity Report - W/E Dec. 7th

Twin Cities Market Activity Report - W/E Dec. 7th

The local housing market experienced the traditional Turkey Day
drop off for the week ending November 28 as Twin Citizens
focused more on turkey and stuffing than purchase agreements
and closing dates. Even taking into account the expected holiday
drop, market activity in the last few weeks has slowed
considerably from the breakneck pace we saw during the first 10
months of the year, likely due to the passing of the home
buyer tax credit's initial deadline. There were 5.9 percent
fewer pending sales compared to the same week in 2008. That's
only the second week of year-over-year decrease in all of 2009
(the first was two weeks earlier).

Now for the good news: Days on Market before Sale dropped 14.5
percent to 127, and the Percentage of Original List Price trended
positive over last year to 94.3. These two metrics should shore up
sellers who are weathering the current economic storm. (MAAR)

To find out the latest listing information for Minneapolis /
St. Paul or any of the surrounding suburbs contact me at
651-795-1147 or visit our website www.HennepinGroup.com