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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