April reporting brings hope as tulips and FOR SALE signs begin to brighten the housing landscape. Along with that hope is a little uncertainty about some regions’ year-over-year sales and inventory figures. Fear not, however, because rates are still lower than most years in modern memory, there’s proof of an improving mix of properties for sale on the national landscape and upward price pressure continues to motivate potential home buyers. Watch listing activity closely for more hints as to what may be unearthed next.
In the Twin Cities region, for the week ending April 5:
- New Listings increased 6.1% to 1,839
- Pending Sales decreased 7.1% to 1,026
- Inventory decreased 3.6% to 13,241
For the month of March:
- Median Sales Price increased 7.6% to $190,000
- Days on Market decreased 12.0% to 95
- Percent of Original List Price Received remained flat at 95.0
- Months Supply of Inventory decreased 6.1% to 3.1
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny.