Tuesday, June 9, 2015

Weekly Market Update: June 8, 2015

As we get closer to the official calendar launch of summer, residential real estate is taking off. The market may seem slower than in past spring/summer sprints, but numbers are by no means dismal. Whether the buyer category is dominated by Millennial, Generation X or move-up buyers from previous generations is no matter; activity is happening.

In the Twin Cities region, for the week ending May 30:

 • New Listings decreased 2.9% to 1,696
 • Pending Sales increased 23.5% to 1,357
 • Inventory decreased 4.6% to 16,202

For the month of May:

 • Median Sales Price increased 6.7% to $224,000
 • Days on Market decreased 5.0% to 76
 • Percent of Original List Price Received increased 0.7% to 97.5%
 • Months Supply of Inventory decreased 12.2% to 3.6

Source:  Minneapolis Area Association of Realtors

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