Where has the Twin Cities real estate market been and where is it heading? This monthly summary provides an overview of current trends and projections for future activity.
For Week Ending April 11, 2015
Both the job market and housing starts regularly draw media attention. One week, reports show that hiring is up and salaries are on the rise, and that home prices are increasing and inventory is on the rise. Then you might catch a story about a layoff or lack of homes for sale and flat prices. While there will always be markets in the country that aren’t as fast-tracked as others, it doesn’t mean they will finish last in the race. Recovery is still evident, as trends show stability to steady improvement.
In the Twin Cities region, for the week ending April 11:
- New Listings increased 9.7% to 2,114
- Pending Sales increased 17.0% to 1,319
- Inventory decreased 0.2% to 14,509
For the month of March:
- Median Sales Price increased 10.5% to $210,000
- Days on Market increased 7.4% to 102
- Percent of Original List Price Received increased 0.8% to 95.9%
- Months Supply of Inventory increased 3.0% to 3.4
All comparisons are to 2014