Spring is finally beginning to show its face after a long, cold winter in many parts of the country. Generally, housing activity is waking up as well. It’s been a slow start to the selling season thus far, but many believe this has more to do with the weather and lack of inventory than it does demand. Any gains may be moderate compared to a year ago, but most experts agree that market normalcy and stabilization are upon us.
In the Twin Cities region, for the week ending March 15:
- New Listings decreased 0.9% to 1,462
- Pending Sales decreased 13.1% to 912
- Inventory decreased 8.2% to 12,475
For the month of February:
- Median Sales Price increased 14.4% to $183,000
- Days on Market decreased 10.8% to 99
- Percent of Original List Price Received decreased 0.2% to 93.6%
- Months Supply of Inventory decreased 12.5% to 2.8
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny.