Twin Cities Market Update – April 13, 2018

Climbing out of winter has taken more time than usual for much of the U.S., but house hunting should finally be taking center stage for many buyers. Quickly assessing what’s available for sale will be key for buyers in what is sure to be another competitive selling season. Buyers and sellers must watch for further mortgage rate increases and volatile economic indicators like a jumpy stock market and chilly relations with international trade partners, which can cause shifts in local housing markets.

In the Twin Cities region, for the week ending March 31:
• New Listings decreased 35.2% to 1,234
• Pending Sales decreased 19.2% to 1,124
• Inventory decreased 23.0% to 8,397

For the month of February:
• Median Sales Price increased 12.7% to $250,000
• Days on Market decreased 15.9% to 69
• Percent of Original List Price Received increased 1.6% to 98.0%
• Months Supply of Homes For Sale decreased 15.8% to 1.6

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