There's no dainty tiptoeing through the tulips this spring, as market flower fields
are blooming with speculation. Sales and new listings are up, and hope for a
fluorescent spring market is flourishing. An increase in inventory is the desire at
this point in the season, as more properties for sale should nudge first-time home
buyers to sow their fledgling seeds in the housing market and encourage move-up
buyers to say goodbye to familiar flower beds in favor of an upsized plot across
town.
In the Twin Cities region, for the week ending April 12:
• New Listings increased 19.9% to 1,925
• Pending Sales increased 1.8% to 1,157
• Inventory decreased 2.4% to 13,736
For the month of March:
• Median Sales Price increased 7.6% to $190,000
• Days on Market decreased 11.1% to 96
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1
Source: Minneapolis Area Association of Realtors
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