outlook and enticingly low mortgage rates were propping up sales and prices in
spite of low inventory. That refrain is still common enough, but regional changes
continue to become more pronounced, whether due to weather, differing
employment expectations or varying new construction outlooks. Let's look at how
our unique local market is performing.
In the Twin Cities region, for the week ending September 23:
• New Listings increased 1.7% to 1,465
• Pending Sales decreased 1.5% to 1,081
• Inventory decreased 16.5% to 12,765
For the month of August:
• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Homes For Sale decreased 16.7% to 2.5
Publish Date: October 2, 2017 • All comparisons are to 2016
Information gathered from MAAR
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