Statistics

Just 10 Weeks Supply of Twin Cities Housing

March 14, 2013 by Aaron Dickinson Leave a Comment

As the news media has been reporting with greater regularity recently, the supply of homes for sale in the Twin Cities has been shrinking dramatically - down over 31% in the last 12 months. As of March 14th, 2013 there were 12,399 homes for sales in the Twin Cities on the NorthstarMLS system. That works out to approximately 13 weeks of supply or approximately 3 months of homes for sale. A balanced market between supply and demand is typically considered to be in the 5-6 months of inventory range, so we're … [Read more...]

Filed Under: Blog, Featured Blog Posts, Info for Buyers, Info for Sellers, Market Stats, Opinion, Statistics

Twin Cities Preforeclosure Notices at 2nd Lowest Since 2009

October 29, 2012 by Aaron Dickinson Leave a Comment

More good news for the Twin Cities Housing Market. The Minnesota Home Ownership Center just released their Q3 2012 preforeclosure data. While there was a slight uptick in notices for the third quarter, the numbers are still down a healthy amount from recent quarters and are sitting at just over half of their peak levels. This continues my mantra that we'll have elevated numbers of foreclosures and short sales for some time but that the worst is behind us. And in case you are wondering what is … [Read more...]

Filed Under: Blog, Featured Blog Posts, Foreclosures and Short Sales, Market Stats, Statistics

University of St. Thomas Housing Index: That’s Not Your Data

July 23, 2012 by Aaron Dickinson 4 Comments

In 2011, The University of St. Thomas Opus College of Business started producing a report called the "Minneapolis St. Paul Residential Real Estate Index." I had heard about it at some point last year but didn't pay much attention. Then this year when I saw the report's authors being quoted in the local news media and the numbers they were reciting, a strange feeling hit me. I had seen these numbers before. I then did some research and looked over the entire contents of several months of their reports and … [Read more...]

Filed Under: Featured Blog Posts, Foreclosures and Short Sales, Housing Analysis, Market Stats, Opinion, Personal Experiences, Statistics, Useless Ramblings Tagged With: University of St. Thomas, UST

Twin Cities Home Prices Continue Climb

July 12, 2012 by Aaron Dickinson Leave a Comment

The Median Sales Price of homes sold in the Twin Cities in June 2012 climbed to $179,500, which is a two year high. The Median Sales Price has jumped 10.8% in the last 12 months! While this is all good news, the reality is that the Median Sales Price is heavily influenced by what sells in a given month. One major trend in the last 12 months has been the increase in Traditional Seller properties selling: Since Traditional Seller homes are in better condition and sell for higher prices than … [Read more...]

Filed Under: Featured Blog Posts, Info for Buyers, Info for Sellers, Market Stats, Statistics

Twin Cities Foreclosures Plummet

June 19, 2012 by Aaron Dickinson 1 Comment

Where have all the foreclosures gone? In the Twin Cities, foreclosure inventory is nearly half of what it was just a year ago and down nearly 60% since its peak: Twin Cities Foreclosures Listed on the MLS Why have they declined so much? Well first of all, demand for foreclosures has been and continues to remain high from both traditional buyers as well as investors. The more important trend however is the decreasing supply of new foreclosures due to lower numbers of sheriff sales: Sheriff Sales in … [Read more...]

Filed Under: Crystal Ball Projections, Featured Blog Posts, Info for Buyers, Market Stats, Statistics