August Market Statistics

August 25th, 2006

The Minneapolis Area Association of Realtors released its new version of the weekly report recently and I love all the new data and breakouts by price and style. It really helps you look into the data further to see what’s happening on a sector-by-sector basis.

Here’s this week’s report:
MAAR Weekly Statistics – August 21, 2006

While these numbers are great, it can also be helpful to look at the market as a whole in summary:

AUGUST 2006 CURRENT RMLS STATISTICS MARKET UPDATE

69 Average days on market

45% More listing on the market than 1 year ago totaling 60663.

35% Of the inventory that has sold in last 30 days has had a price adjustment

5.3 Months Absorption Rate=the time it would take for all the listings to sell if no more homes were put on the market

6 For every sale that takes place, there are 6 more homes that haven’t sold

36 Showings for every home that sells (From Edina Realty appt center statistics)

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Edina Realty – Aaron Dickinson