As another year winds down, we'll be looking toward 2016 with increased interest in changes in trend lines. But as we've seen over the last several months, and now beginning to become multiple years, the trends have been pretty steady. The prevailing thought by national market watchers is that 2016 will largely mirror 2015 but at a more even pace. The continuation of Fed rate increases are expected to keep things in check, but the funny thing about anticipating those increases is that it tends to inspire more activity. Happy New Year!
In the Twin Cities region, for the week ending December 26:
• New Listings increased 0.7% to 271
• Pending Sales increased 39.6% to 483
• Inventory decreased 19.3% to 11,519
For the month of November:
• Median Sales Price increased 6.8% to $219,040
• Days on Market decreased 7.6% to 73
• Percent of Original List Price Received increased 1.2% to 95.8%
• Months Supply of Inventory decreased 28.2% to 2.8
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