Weekly Market Update: Week Ending January 2nd, 2016

Optimism is in the air as we turn to face a new calendar year. As far as residential real estate goes, there is plenty to feel positive about. Buying and selling activity continued through the final months of 2015, and there's little reason to believe that trend will slow down during the first month of 2016. If anything, the past few years have indicated a tendency for listings and sales to increase in January.

In the Twin Cities region, for the week ending January 2:
 • New Listings decreased 24.8% to 416
 • Pending Sales increased 2.2% to 550
 • Inventory decreased 19.5% to 11,175

For the month of December:
 • Median Sales Price increased 9.9% to $219,900
 • Days on Market decreased 12.4% to 78
 • Percent of Original List Price Received increased 1.4% to 95.5%
 • Months Supply of Inventory decreased 34.4% to 2.1

Source: Minneapolis Area Association of Realtors
Publish Date: January 11, 2016 • All comparisons are to 2015