Here are the numbers for condos and lofts that went pending in Minneapolis this past week:

• 20 condos/lofts went pending
• Average pending sales price $146,849 (lowest yet)
• Median pending sales price $153,798
• Days on market 81
• Average price per square foot $143

Takeaways

The lower segment of the market is definitely moving it, meaning what’s going to happen when no more tax credit?

Here are the numbers for pending condos in Minneapolis from October 12th:

• 20 condos/lofts went pending (the biggest yet since I began keeping track)
• Average pending sales price $182,338
• Median pending sales price $182,900
• Days on market 73
• Average price per square foot $183.01

The week was better than most as far as pending sales, still the lower end that is moving.

I missed the one two weeks prior for reasons I have no idea and this past week with flu-like setback but nonetheless here is a little mini market report of condos in Minneapolis that went pending:

• 17 condos/lofts went pending
• Average pending sales price $182,064
• Median pending sales price  $155,000
• Days on market 94
• Average price per square foot $181.14

Takeaways

1. 16 out of the 17 condos that went pending were under $200,000. The one over that went pending at $1,199,000 and was located in the luxury highrise The Carlyle.
2. Days on market squeaked up a little bit from the previous couple of weeks and more condos are selling under the $100k.
3. Price per square foot is also done closer to where it needs to be to keep the market moving.
4. Still haven’t seen the slowdown with consistent amount of pending sales week over week, but if you have a condo over $250k, keep your fingers crossed.

Remember that these are pending sales, not closed sales. Information was used from the MLS.

Here is a little mini-market report about the condos that went pending in Minneapolis this past week:

• 17 condos/lofts went pending in Minneapolis (down from 19 last week)
• Average pending sales price $339,540
• Median pending sales price $219,900
• Days on market 84
• Average price per square foot $268.11

Looks like Phoenix On The River was the winner this past week, placing three condos on the pending sales side. Also important to note that numbers were a little higher than last week only because a few luxury penthouse condos sold for over $1 million.

Remember that these stats are pending sales (from the NorthstarMLS), the final prices will not be known until the property closes

Here are the condos that went pending for the past week in Minneapolis:

• 19 Minneapolis condos/lofts went pending
• Average sales price $237,067
• Median sales price $184,000
• Days on market 70
• Price per square foot $185.93

No condo unit had multiple sales, a few short sales and bank owned properties. Sales were scattered throughout Minneapolis.