Tuesday, June 2, 2015

Weekly Market Update: June 1, 2015

The pattern has continued mostly unabated for the first part of the year thus far. In year-over-year comparisons, new listings have been up, sales have been up and inventory has been down. This was expected when the year began, and it has been a comfort to see this level of predictability. When something as important as a home purchase feels like a safe bet, the economy can continue to improve and prosperity is palpable.

In the Twin Cities region, for the week ending May 23:

 • New Listings increased 0.7% to 1,881
 • Pending Sales increased 18.6% to 1,500
 • Inventory decreased 4.0% to 16,078

For the month of April:

 • Median Sales Price increased 9.7% to $215,000
 • Days on Market decreased 4.5% to 85
 • Percent of Original List Price Received increased 1.1% to 97.0%
 • Months Supply of Inventory decreased 2.8% to 3.5

Source:  Minneapolis Area Association of Realtors

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