Tuesday, September 22, 2015

Weekly Market Update: September 21, 2015

Year-over-year home value percentages have continued to rise across the nation. Millennials have been pinpointed as the driver of the price increases, as this age group continues to show a willingness to ditch high rental costs while taking a step toward a commitment to homeownership at prices that may surpass last year at this time.

In the Twin Cities region, for the week ending September 5:

 • New Listings decreased 12.7% to 1,443
 • Pending Sales increased 31.9% to 1,167
 • Inventory decreased 12.6% to 16,537

For the month of August:

 • Median Sales Price increased 2.7% to $224,900
 • Days on Market decreased 5.9% to 64
 • Percent of Original List Price Received increased 0.8% to 97.1%
 • Months Supply of Inventory decreased 21.7% to 3.6

Source:  Minneapolis Area Association of Realtors

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