Spring is finally beginning to show its face after a long, cold winter in many parts
of the country. Generally, housing activity is waking up as well. It's been a slow
start to the selling season thus far, but many believe this has more to do with the
weather and lack of inventory than it does demand. Any gains may be moderate
compared to a year ago, but most experts agree that market normalcy and
stabilization are upon us.
In the Twin Cities region, for the week ending March 15:
• New Listings decreased 0.9% to 1,462
• Pending Sales decreased 13.1% to 912
• Inventory decreased 8.2% to 12,475
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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