The season of backyard grilling, outdoor festivals and extended family vacations is
upon us. Those who are already safely tucked in an owned home are not likely
thinking much about the housing market, but those who are fixing to buy or sell
are living it daily. Not enough inventory or not enough money offered for
purchase? Too high a price or multiple offers on the table? The answers are ever
evolving and dependent upon location and situation. A new quarter of activity is
almost in the books, but year-over-year comparisons on monthly and weekly
activity may be more beneficial for those living the housing life.
In the Twin Cities region, for the week ending June 21:
• New Listings increased 6.3% to 1,910
• Pending Sales increased 3.1% to 1,216
• Inventory increased 7.5% to 17,365
For the month of May:
• Median Sales Price increased 8.2% to $210,000
• Days on Market decreased 7.0% to 80
• Percent of Original List Price Received decreased 0.2% to 96.8%
• Months Supply of Inventory increased 11.1% to 4.0
Source: Minneapolis Area Association of Realtors
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