Monthly Skinny on the Real Estate Market!

As there are so many negative stories on the real estate market, I remain optimistic. Bullish in fact. My business has stayed the course for three years with the philosophy "work hard and remain positive." There are truely significant signs the real estate market is turning. The stats do not lie my friends. We are heading to better waters. By next spring we may be back to a balanced market! jkoltes@gmail.com

Click on the link below for a short video that will inspire you that our Minnesota housing market is on it's way!

Where has the Minneapolis real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity.
Click here for the full report!

Minneapolis Housing Stats..Great News!

Great News! Don't be Caught on the Sidelines This Time!

New listings and pending sales both took a jump upward in the week
ending June 6 as the annual post-Memorial Day surge in activity took
place. There were 1,226 signed purchase agreements in the Twin
Cities for the week, which represents a 33.4 percent increase over the
same week last year. The 2,160 new listings were a 4.3 percent
decline from a year ago but were a significant bump over the activity
seen during the Memorial weekend respite.

Complete Report: Housing Stats

The June Housing Affordability Index of 199 is down 20 points over the
last two months due to recent rises in mortgage rates and seasonal
increases in the region's median sales price. Combine that with a
steadily declining Months Supply of Inventory (7.6 months) and falling
Supply/Demand Ratio (5 homes per buyer), and it's clear that buying
conditions are not quite as friendly as they were a couple of months
ago, especially in the lower price ranges.

Regardless, there remains a hefty cadre of properties available for
purchase. And with the $8,000 federal tax credit spurring first-time
home buyer activity, this summer should be busy.

Complete Report: Housing Stats

Housing Supply Outlook!

What to Watch For

The number of townhome sales in the Twin Cities metro area has increased over the last year by 0.4 percent after several consecutive years of declines in
unit sales. Can you guess the price point where townhouse sales increased the heaviest in the past year? Under $120,000, where sales have more than tripled.
Of the 1,898 townhouse sales in that segment, 1,557 were lender-mediated foreclosures and short sales. Click here for the complete report.

There are currently 7.6 months of supply available, down 28.6 percent from last year at this time when the mark was 10.4 months. The biggest drops in supply
have been seen in the single-family detached and townhouse markets—the months supply of condominiums still sits at 12.5 months. Email Me

Sales are up overall, but in the higher price ranges sales are still down over 20 percent year-over-year. In the $1,000,000 and higher segment there is almost 3
years of supply available.

If you have any questions or need help with your housing needs, please drop us an email.
Call anytime Joe 612-308-4708 Tom 612-865-9778

Minnesota Real Estate Stats ending 5/23/09

For the week ending May 23, there were 1,103 pending sales, which
was down slightly from the week prior due to the Memorial Day
weekend holiday. Despite the low-cal dip, the mark is still 27.2 percent
higher than last year at this time. Of the week's sales, 43.2 percent
were lender-mediated foreclosures and short sales. In week-by-week,
year-over-year comparisons, sales are expected to be higher than last
year for the remainder of the year. Contact me

Heavy sales and soft growth in new listings equate to no growth in the
supply of homes for sale this spring—the time of year that typically
shows the largest increases. There are currently 26,453 active listings,
lagging 19.6 percent behind this time in 2008. Full Report Here

This week's edition of the MAAR Weekly Market Activity Report
features a new Supply-Demand Ratio for June 2009 of 5.04, which
means that there will be 5.04 houses per buyer during the month. This
is an astounding 33.4 percent drop compared to June 2008.

Any help you need buying or selling, please drop me an email!

Or call me at 612-308-4708