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Brad Anderson Realtor's Blog

By Brad Anderson | Agent in Maple Grove, MN

Weekly Real Estate Market report

Weekly Market Activity Report
For Week Ending July 21, 2012 
Publish Date: July 30, 2012
All comparisons are to 2011

With the Olympics in full swing, many are noting that housing has already medaled
in several arenas. Sellers waiting for firmer prices should take a fresh look at the
data. Buyers nervous about a declining market should do the same. Key changes
continue to take place that set the stage for a more meaningful recovery. And you
thought interest rates couldn't get any lower? Mortgage rates hit a fresh record
low last week, scraping in at 3.65 percent on a 30-year fixed. That's cheap money,
if ever there were such a thing.
In the Twin Cities region, for the week ending July 21:
• New Listings increased 1.2% to 1,382
• Pending Sales increased 22.7% to 1,145
• Inventory decreased 30.7% to 17,174
For the month of June:
• Median Sales Price increased 10.3% to $178,750
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.0% to 95.1%
• Months Supply of Inventory decreased 43.0% to 4.5.

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