Twin Cities Real Estate Market – Woof, it’s getting hot out there!

The Twin Cities housing marke is entering the dog days of summer, and with that comes a bit more stagnant air revolving around new inventory. The 1,637 new listings for the week ending August 1 are 12.2 percent below last year’s numbers. Over the past few weeks, pending sales have been flat, but in year-over-year comparisons they are still 20.9 percent above 2008 numbers.

Two new stats for the week:

Days on Market Until Sale:

Dropped by 6.6 percent over last year, from 146 to 137. Inventory is being swept up.

Percent of Original List Price:

94 percent. On a steady increase the past few months as is usually the case during the summer months.

Stats are provided by the Minneapolis Area Association of Realtors.

Tags: Bank owned properties for sale, hennepin county, homes, houses, housing, Lisa Martin, Minneapolis Area Association of Realtors, Real Estate Market Information, residential