Brainerd Area Lakes Real Estate Newsletter

Monday, September 24, 2012

September Monthly Skinny Video


Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity. Narrated by Emily Green (2012 Secretary, Minneapolis Area Association of REALTORS®), video produced by Chelsie Lopez.

Monthly Skinny Video

Monday, September 24, 2012

Weekly Market Report


On September 13, the Federal Reserve announced its third round of quantitative easing (QE3). This time, it took the form of $40 billion in mortgage-backed securities (MBS) purchases each month. The goal is to bolster the stock market by diminishing returns on MBSs. This will make equities more attractive, which will provide capital to corporations, who should in turn hire and therefore spur consumer spending. If successful, that job creation and spending will resonate into housing consumption and reinvestment. New jobs fuel housing demand which alleviates underwater homeowners and supports home prices. Here’s how we rounded out the week.

In the Twin Cities region, for the week ending September 15:

  • New Listings increased 4.0% to 1,360
  • Pending Sales increased 18.4% to 978
  • Inventory decreased 29.5% to 16,479

For the month of August:

  • Median Sales Price increased 14.8% to $178,000
  • Days on Market decreased 23.9% to 107
  • Percent of Original List Price Received increased 4.2% to 95.1%
  • Months Supply of Inventory decreased 41.5% to 4.2

Click here for the full Weekly Market Activity Report.

From The Skinny.

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