Tuesday, April 22, 2014

Weekly Market Update: April 21, 2014

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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