There trends that show some stablizing of the Twin Cities real estate market but here are a few highlights from the enclosed report.

1. The median sales price had an increase for the 1st time in 9 months.

2. The average sales price is still on a decline to for the last 5 month.

3. The afforadablity index is 40% better than last year at this time with lower interest rates and house pricing lower.

4. Inventory on new listings is down 21.7% from two years ago. That is good, but we are still high in comparison to our inventory levels in 2004.

5. Pending sales are up 13.7% from a year ago though the increase in sales is under $150,000 with sales over $250,000 down by about 20%. Each Twin Cities market place varies so each needs a separate look.

6. Lender mediated sales peaked in February at 60%  and now is back in the mid 50% range. A hope of moving towards a more normal market.

7. The total sales volume for sales is down 16.8% from last year, showing that even though total sales are up the homes that are selling are in the lower value ranges. This maybe a reflection on the 1st time homebuyer $8000 tax credit.

Click below for the full report from The Minneapolis Area Association of Realtors:

http://www.mplsrealtor.com/downloads/market/MMI/mmi.pdf

There is great data available to share with you about your specific area of town. Give me a call if you want more specific information on your area, style of housing and price range.