Tara O'Brien's Minneapolis Real Estate Update: Weekly Market Report

Housing activity for the week ending January 2, 2010 took a predictable surge upward following the holiday break. New listings rose to 688 for the week—down 37.3 percent from a year ago—while pending sales posted a number of 378—down 11.7 percent from a year ago. We will likely have to wait another week for all the holidays and frosty weather to get flushed from our year-over-year comparisons to get a full understanding of where our market is headed.
A few additional stats for the New Year:
Housing Affordability continues at historic levels: rising to 208 for January, an 8.3 percent increase from the previous year and a good sign for buyers in the year to come.The Months’ Supply of Inventory is back in balanced market territory at 5.0 months. This is a dramatic 34.2 percent under the supply at the beginning of last year.With a balancing supply and demand and the possibility of rising interest rates on the horizon, this is a unique opportunity time for Twin Cities' home buyers.
Uptown, Warehouse District, 710 Lofts, Washburn, Stone Arch, North Star Lofts, Whitney, Zenith, Bridgewater, Cobalt, Carlyle, Falls Pinnacle, Flour Sack Flats, Phoenix on the River, Larive, River West, St Anthony, Grant Park, Eat Street Flats, 720 lofts, Bookman Stacks, Skyscape, Bridgewater, Zenith, Itasca, IMS Lofts, Chicago Lofts, Edgewater, Lumen on Lagoon, Tower Lofts, Harvester Lofts, 730 Lofts, North Star Lofts, Whitney Lofts, Stone Arch Lofts, Washburn Lofts, Bridgewater, 5th Ave Lofts, Rock Island Lofts, Condo, Loft, Mill District, North Loop, Warehouse District, Elliot Park, Loring Park, St Anthony Main, Northeast, River, City, Downtown, Minneapolis, The Claridge, East River Mews, M Flats, U Flats, 1300 on the Park, Condos on Blaisdell, Condos at Lake Harriet, Arches at Arts Row House, The Greenhouse Condos, CityView Condos, Uptown Condos, Cheslakee Parkview Condos, Bremer Way, Harriet Hills Condos, Lake Nokomis North, The Historic Bremer, 2615 Park Ave, 2532 1st Ave, Aldrich Square Condos, LakeWest condos, University Flats, Marwood Condos, Standish Green, Calhoun Gardens, 3310 Nicollet Condos, West Lake Harriet Condos, Minnehaha Square, Dupont Plaza, Harriet Place Condos, In Town on Lake, 1225 LaSalle, Portico, The Bellevue, The Groveland, The Kenosha, The Wellington, Lumen on Lagoon, Midtown Lofts, The Edgewater, Calhoun Isles, Calhoun Place, Excelsior and Grand, Lake Harriet Condos, Lake Point, Loop Calhoun, 1926 Pleasant, 3rd Avenue Place Phase I, 3rd Avenue Place Phase II, 2626 West Lake, Calhoun Ambassador, Track 29, The Zenith, Greenway Townhomes, Durkee Atwood Lofts, Dartmouth Place Townhomes, River Park Townhomes, Rivermill Townhomes Southeast, Rivertower, St Paul Condos, University Place, Whitney Square, 3310 Nicollet, 3636 Grand, 42nd Street Lofts, 4309 Bryant, 46th & 46th, East Harriet Flats, Arthur Place, Arts Quarters Lofts, Bloomington Central Station, Brookside Lofts, Cedar 28, Corridor Flats, Eat Street Flats, Franklin Lofts,