The Twin Cities has signs of coming out of the declining market both in sales and also in market value.

In the enclosed reports you will find that our inventory of homes for sale is dropping, and has in fact been doing that for 2 years. But to get back to inventories of the early 2000's we still need an additional 25% decrease.

Average sale prices and median sales prices have been declining since 2006 but in these most recent reports you will in an increase in both over the last 2 to 3 months.

Unit sales are up, which is a very good thing. But the great increase in sales has been in the value range under $150,000. At the values over $190,000, sales lag behind last year by 15-25% depending on the value range.

Lender mediated sales (foreclosure & short sale) grew from 6%, 2 years ago to over 50% in 2009. A changing indicator though is that we peaked in percentage of lender mediated sales in the spring of 2009. This trend needs to continue to firm up the values on Twin Cities real estate.

Enclosed are the reports. I would be honored to meet with you to get specific with your property(ies) and how these apply to your specific price range, area, and style.

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

Housing Supply Outlook:http://www.mplsrealtor.com/downloads/market/HSO/hso.pdf

The Skinny - youtube video: http://www.youtube.com/watch?v=VwdCVLCS82A