As we embark upon the 2018 campaign, watch for upward movement in some of
the same areas for wanted improvements in 2017. The number of homes available
for sale continues to be a key factor in the dynamics of residential real estate.
Simply put, it would be good to have more inventory available for purchase. Buying
a home is a viable and exciting option for many consumers, and having more
homes to choose from is one way to assure that the dream of home-ownership is an
affordable achievement.
In the Twin Cities region, for the week ending January 6:
• New Listings decreased 13.4% to 850
• Pending Sales decreased 10.7% to 534
• Inventory decreased 26.7% to 6,904
For the month of December:
• Median Sales Price increased 9.8% to $248,200
• Days on Market decreased 15.3% to 61
• Percent of Original List Price Received increased 1.3% to 97.1%
• Months Supply of Homes For Sale decreased 26.3% to 1.4
Publish Date: January 15, 2018 • All comparisons are to 2017
MINNEAPOLIS AREA ASSOCIATION OF REALTORS®
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