For Week Ending April 30, 2016
The home-purchasing season may get a bit competitive this year thanks to low mortgage rates and pent up demand. With pending sales on the rise in many markets combined with a relatively low number of homes for sale, buyers need to act quickly once they find their ideal home.
In the Twin Cities region, for the week ending April 30:
- New Listings decreased 8.8% to 1,869
- Pending Sales increased 5.2% to 1,584
- Inventory decreased 18.7% to 12,966
For the month of April:
- Median Sales Price increased 7.7% to $231,500
- Days on Market decreased 14.1% to 73
- Percent of Original List Price Received increased 1.0% to 98.0%
- Months Supply of Inventory decreased 27.8% to 2.6
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.