Weekly Market Update For Week Ending January 23, 2016

We're just breaking into 2016, so it's a bit early to say how the spring and summer markets are going to fare based on a few weeks of trend analysis, but for the most part, things are happening the way we expected to start the year. There are some nibbles of new listings being added to the market, and sales are taking root, but the overall number of homes for sale has some work to do in order to give this year the real steam it deserves.

In the Twin Cities region, for the week ending January 23:
 • New Listings decreased 14.2% to 908
 • Pending Sales increased 12.1% to 725
 • Inventory decreased 20.7% to 10,403

For the month of December:
 • Median Sales Price increased 9.9% to $219,900
 • Days on Market decreased 11.2% to 79
 • Percent of Original List Price Received increased 1.3% to 95.4%
 • Months Supply of Inventory decreased 31.3% to 2.2

Publish Date: February 1, 2016 • All comparisons are to 2015
Source: Minneapolis Area Association of Realtors