Twin Cities area real estate statistics (Rochester, Lakeville: for sale, condo, first time home buyer)

[Robert P Stewart]

Total number of listings in the 7 county metro area: 23,590

# of new listings since Jan 1st: 5,311

Total inventory this week is up 8.3% compared to the same week last year.

Total inventory this week is up 38.6% compared to the same week 2 years ago.

New pendings (purchases) were up 9.5% with 855 properties leaving the market via written purchase agreements. This is 84.8% of where we were this week last year, with 1,008 properties leaving the market.

This week the big winner was single family homes, with a 14.2% increase in new pendings versus last week.

I hope this helps!

Robert

Robert@RobertPStewart.com

[yellowsnow]

Thank you Robert! I will grasp at any straw I can find!

[Robert P Stewart]

I actually keep stats on most of the individual suburbs. In my specific area, I keep statistics by neighborhood and sometimes even street. I do the general statistics weekly, and I suppose I'll just post them to this thread when I get around to it! I'm busted. I'm a nerd.

I hope you find it helpful!

Robert

[Robert P Stewart]

Alright - the weekly review!

The number of houses on the market went above 24,000 to 24,077 active listings (single family + townhomes). This is immense. That's an increase of 2.1% from last week and represents 5,798 more listings since the beginning of the year. This puts us 7.4% ahead of the same time last year (22,410 actives), and 42.0% of the same time two years ago (16,961).

This week, new pendings (homes that are selling) were down 8.3% from the previous week (probably due to Easter) with a total of 784 properties leaving the market via purchase agreement. That total is 17.4% fewer new pendings than at the same time last year.

Conditions haven't been this nice to buy a home in 2 years. If you're unlucky enough to be selling in this market, but lucky enough to also buy in this market - it's a wash. You'll get less for your home, but you'll also buy your next home for less. Its an interesting perspective I like my clients to have.

Robert

[TimtheGuy]

Conditions haven't been this nice to buy a home in 2 years. If you're unlucky enough to be selling in this market, but lucky enough to also buy in this market - it's a wash. You'll get less for your home, but you'll also buy your next home for less. Its an interesting perspective I like my clients to have.

So, if you are a renter/1st time homebuyer it is a good time to enter the market.

[yellowsnow]

Originally Posted by Robert P Stewart

Alright - the weekly review!

The number of houses on the market went above 24,000 to 24,077 active listings (single family + townhomes). This is immense. That's an increase of 2.1% from last week and represents 5,798 more listings since the beginning of the year. This puts us 7.4% ahead of the same time last year (22,410 actives), and 42.0% of the same time two years ago (16,961).

This week, new pendings (homes that are selling) were down 8.3% from the previous week (probably due to Easter) with a total of 784 properties leaving the market via purchase agreement. That total is 17.4% fewer new pendings than at the same time last year.

Conditions haven't been this nice to buy a home in 2 years. If you're unlucky enough to be selling in this market, but lucky enough to also buy in this market - it's a wash. You'll get less for your home, but you'll also buy your next home for less. Its an interesting perspective I like my clients to have.

Robert

Great......but it only works if you are buying in another area where prices are falling! For a lot of people it will be a wash. But others will lose twice!

[Ummm]

interesting.

do you have stats for rochester?

[Robert P Stewart]

No, I don't do the stats for Rochester because frankly I don't do any business down there. My area is the beloved southern suburbs, and more specifically, Lakeville to Mendota Heights. I always refer Rochester business to Rochester people who actually know what they're doing down there.

I've got a very good friend who works down that way, I'll ask for you.

Robert

[Robert P Stewart]

This week we're at 24,788 listings in the 7 county metro.

This is 8.5% higher than this week last year and 46.4% higher than this week 2 years ago.

As far as county performance goes, Anoka County led with a 4.1% increase this week while Scott County (the lowest) increased 1.4% versus last week.

New pendings (houses that are selling) went up this week by 3.7% versus last week (813 this week vs 784 last week). New pendings were lower in Ramsey County this week by 19.2%. New pendings in Hennepin county were up by 15.7% (way to go!).

Overall, the market this summer is slower than it was last year - especially if you're trying to sell a condo or townhouse. On the other side, I had a client this week purchase a $225,000 (fair price) townhome for $196,900. Wow - if you're looking for a townhome or investment townhome - now's the time!

Robert

Robert@RobertPStewart.com

[golfgal]

Just an observation around our town, starter homes are moving and moving fast. There was a house on my route to work, busy street but TONS of younger families, that sold in 3 days. There have been 3 houses for sale on this street this spring and they have all sold in less then a month. I don't know for sure but I am guessing they are in the $250K range. It is a GREAT time to buy if you are a first time home buyer or if you aren't selling a house now.