Industry News

Twin Cities real estate ends summer with bang

Region posts records in new listings, closed sales, MLS says

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New listings and closed sales in the Twin Cities 13-country metro area posted August records, surpassing previous records set in August 2004, according to statistics released by the Regional Multiple Listing Service of Minnesota. The MLS said pending sales posted the second-highest August numbers on record. Year to date, closed sales are slightly above last year's pace, while new listings and pending sales are just slightly behind last year at this time, according to the MLS. "These numbers illustrate that the Twin Cities residential real estate market is primed for ongoing robust and healthy activity," said Gregg Roeglin, president of the Minneapolis Area Association of Realtors, in a statement. August's pending sales of 6,100 dipped below August 2004's historical highs by a slight 1.1 percent, the MLS said. Year to date, pending sales are very closely matching MAAR's predictions from the beginning of the year and are still expected to end the year near 64,000 sales, accor...