Twin Cities Market Activity Report - W/E Dec. 7th

Twin Cities Market Activity Report - WE Dec. 7th

The local housing market experienced the traditional Turkey Day drop
off for the week ending November 28 as Twin Citizens focused more
on turkey and stuffing than purchase agreements and closing dates.
Even taking into account the expected holiday drop, market activity
in the last few weeks has slowed considerably from the breakneck
pace we saw during the first 10 months of the year, likely due to
the passing of the home buyer tax credit's initial deadline. There
were 5.9 percent fewer pending sales compared to the same week in
2008. That's only the second week of year-over-year decrease in
all of 2009 (the first was two weeks earlier).

Now for the good news: Days on Market before Sale dropped 14.5
percent to 127, and the Percentage of Original List Price trended
positive over last year to 94.3. These two metrics should shore up
sellers who are weathering the current economic storm. (MAAR)

Get local in on Elk River / Otsego / Big Lake / Rogers / Zimmerman by contacting me at 651-795-1147 or visiting www.ElkRiverHomes.com