Housing activity is on the upswing after a slow start to the year. Showings, new listings and pending sales are increasing across much of the country, and inventory is straining to keep pace with demand. These pivotal weeks of the spring market are worth watching with extra care, as they may portend the entirety of the 2019 residential real estate market. Buyers are certainly active. Sales and prices will be strong if there are enough options to choose from.
In the Twin Cities region, for the week ending April 13:
- New Listings increased 1.8% to 1,689
- Pending Sales decreased 6.0% to 1,228
- Inventory decreased 2.0% to 9,223
For the month of March:
- Median Sales Price increased 6.5% to $275,000
- Days on Market increased 15.8% to 66
- Percent of Original List Price Received decreased 0.5% to 98.6%
- Months Supply of Homes For Sale increased 5.6% to 1.9
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.