Weekly Market Activity Report For Week Ending April 8, 2017

With both inventory and months of supply struggling to keep up with demand, it will
not be unusual to see some weeks where pending sales post a year-over-year
decline, especially if new listings droop below the standards set during the prior
year. Meanwhile, we can continue to expect to see sales prices forge their way
upward and affordability shrink downward in what is expected to be a pleasant
spring and summer for sellers.

In the Twin Cities region, for the week ending April 8:
• New Listings increased 1.4% to 2,013
• Pending Sales decreased 9.1% to 1,337
• Inventory decreased 21.7% to 10,188

For the month of March:
• Median Sales Price increased 7.0% to $237,500
• Days on Market decreased 14.1% to 73
• Percent of Original List Price Received increased 1.3% to 98.1%
• Months Supply of Homes For Sale decreased 19.2% to 2.1

Publish Date: April 17, 2017 • All comparisons are to 2016

Information gathered from MAAR