“New on Market July 1” Supposedly, the only month in which there’s no recorded snow anywhere in Minnesota is July (and I’m not so sure about that). So, it’s obvious that this Craftsman-style Bungalow (above) in Minneapolis’ Kenwood neighborhood didn’t really just debut on the market this week. In fact, according to MLS, the home’s Cumulative...Read More
Key Statistics: Not Just Price Which statistics are most important for getting a handle on the housing market? Certainly, trailing price changes are important. But, there are various such indices, and the best known ones (like Case-Shiller) track entire metro areas, not individual municipalities (let alone neighborhoods). It’s well and good that the Twin Cities...Read More
Hot New Listings on (& backing up to) Highwood Rd. in Lake Forest Neighborhood If the Twin Cities housing market gets any hotter — at least in some neighborhoods — the local Multiple Listing Service (“MLS”) is going to have to supplement its “Days on the Market” statistic with another one: “Hours on the Market.” That’s...Read More
Parsing MLS Lingo One of the more confusing concepts on MLS is “Days on Market” vs. “CDOM” (Cumulative Days on Market) vs. “History.” Initially, it’s pretty straightforward: after 30 days on the market, a given listing’s “Days on Market” is . . . surprise! . . . 30; CDOM is 30; and “History” shows one...Read More
“Name . . . That . . . Tune Market Time!!” I’d be terrible at “Name that Tune” (I’m tone-deaf and know next to nothing about contemporary music — or any other kind). If you blindfolded me, I couldn’t tell you if I was smelling a rose or rotten eggs (my sense of smell is worse than my musical aptitude). But if I went...Read More
Yellow Flag: ‘Pending’ Back to ‘Active.’ Fools rush in where angels fear to tread. –Alexander Pope To get their arms around a listing, especially when they have a Buyer in the wings, veteran agents like to poke through the home’s MLS history. How long has the home been on the market? How many price reductions...Read More
