For Week Ending April 14, 2018
One begins to wonder just how long the housing market can work in the favor of sellers. Low inventory continues to create a competitive situation for buyers that has sales prices meeting asking prices and often going over for well-priced homes that show well. As long as buyers continue to form new households and feel financially confident within an inviting economy, this could be the state of residential real estate for quite some time.
In the Twin Cities region, for the week ending April 14:
- New Listings decreased at 1,653
- Pending Sales decreased 14.0% to 1,258
- Inventory decreased 24.2% to 8,752
For the month of March:
- Median Sales Price increased 9.8% to $258,000
- Days on Market decreased 21.9% to 57
- Percent of Original List Price Received increased 1.1% to 99.1%
- Months Supply of Inventory decreased 22.7% to 1.7
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.