More daylight should help bring more hours of long-desired activity to the housing
market. As the spring market dawns, sellers may see prices continue to rise and
more homes should find their way to market. As long as the economy continues to
gain momentum and mortgages remain low, previously underwater sellers and
eager buyers should find opportunities to talk business.
In the Twin Cities region, for the week ending March 8:
• New Listings increased 6.5% to 1,454
• Pending Sales decreased 14.7% to 821
• Inventory decreased 9.4% to 12,118
For the month of February:
• Median Sales Price increased 14.4% to $183,000
• Days on Market decreased 10.8% to 99
• Percent of Original List Price Received decreased 0.2% to 93.6%
• Months Supply of Inventory decreased 12.5% to 2.8
Source: Minneapolis Area Association of Realtors
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