At the close of January, we see the same market steadiness from last year continue
into 2016. Higher home prices are predicted for the year, and there has been a
continuing shortage of inventory. However, we should also see a strengthening
labor market and further interest in purchasing a home by millennials, keeping
things relatively unwavering and balanced.
In the Twin Cities region, for the week ending January 30:
• New Listings increased 0.7% to 1,017
• Pending Sales increased 0.2% to 873
• Inventory decreased 21.6% to 10,285
For the month of January:
• Median Sales Price increased 10.3% to $215,000
• Days on Market decreased 15.8% to 85
• Percent of Original List Price Received increased 1.5% to 95.0%
• Months Supply of Inventory decreased 32.3% to 2.1
Publish Date: February 8, 2016 • All comparisons are to 2015
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