Twin Cities Markety Activity Report - WE 3/15
provided by MAAR
The $6,500 tax credit for move-up buyers appears to be stimulating some sellers to place their homes on the market in an attempt to sell them before the credit expires. For the week ending March 6, there were 2,279 new listings, an increase of 24.6 percent from a year ago.
Every price range is seeing increased listing activity except for the two ends of the price spectrum: below $120,000 and above $1 million. For the same reporting week, there were 809 accepted offers, which is a decline of 6.9 percent from a year ago. Over the last three months, pending sales have been just 2.0 percent higher than during the same period a year ago.
As a result of the strong new listings and flat pending sales, the inventory of available homes is rising faster this spring than it did last year. While there are still 8.2 percent fewer homes for sale right now than there were a year ago, that's a much smaller year-over-year decline than we've seen over the last two years
provided by MAAR
The $6,500 tax credit for move-up buyers appears to be stimulating some sellers to place their homes on the market in an attempt to sell them before the credit expires. For the week ending March 6, there were 2,279 new listings, an increase of 24.6 percent from a year ago.
Every price range is seeing increased listing activity except for the two ends of the price spectrum: below $120,000 and above $1 million. For the same reporting week, there were 809 accepted offers, which is a decline of 6.9 percent from a year ago. Over the last three months, pending sales have been just 2.0 percent higher than during the same period a year ago.
As a result of the strong new listings and flat pending sales, the inventory of available homes is rising faster this spring than it did last year. While there are still 8.2 percent fewer homes for sale right now than there were a year ago, that's a much smaller year-over-year decline than we've seen over the last two years
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 | |
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