Weekly Market Update: May 4, 2015

New listings are on the ups, and buyers seem poised to move on the most desirable new properties in a hurry. Tales of one-day and even same-day purchase offers are being shared over coffee, lunch and happy hour, generally bringing the total days on market average down as the joy index rises.

In the Twin Cities region, for the week ending April 25:

• New Listings increased 3.5% to 1,971

• Pending Sales increased 38.7% to 1,625

• Inventory increased 0.4% to 15,178

For the month of March:

• Median Sales Price increased 10.5% to $210,000 

• Days on Market increased 7.4% to 102 

• Percent of Original List Price Received increased 0.8% to 95.9% 

• Months Supply of Inventory increased 3.0% to 3.4

Source:  Minneapolis Area Association of Realtors