Weekly Market Activity Report

Here's the latest from MAAR:

Activity in the Twin Cities housing market is gradually increasing as we enter the spring season. Total inventory, new listings and newly signed purchase agreements (pending sales) are all on an upward trend. However, activity remains down compared to 2005 and 2006, and pending sales, in specific, remain a concern. For the week ending March 31, there were just over 2,600 new listings, down 4 percent from the same time last year. Pending sales were 19 percent behind for the same year-over-year comparison.

This week's edition of the MAAR Weekly Market Activity Report features a brand new metric: Percent of Original List Price Received at Sale. The March 2007 figure is 95.6 percent, down from the figure of 97.8 percent posted in March 2006. The number is created by comparing the final sales price of closed sales to their original list prices. This does not account for list prices from any previous listing contracts, but remains a valuable tool in gauging the supply-demand dynamics of our market.