Twin Cities Market Update – April 20, 2018

The spring of 2018 has exhibited weather patterns that many will not soon forget. Professional baseball games are getting canceled due to snow, vacations are being delayed by grounded flights and the usual rush that takes place in the housing market when the names of months get shorter is maintaining a more even pace. Given continued heightened buyer demand brought on by more household formations and higher wages, temperance may well be a good thing for market health.

In the Twin Cities region, for the week ending April 7:
• New Listings decreased 5.8% to 1,941
• Pending Sales decreased 11.7% to 1,230
• Inventory decreased 24.9% to 8,365

For the month of March:
• Median Sales Price increased 9.8% to $258,000
• Days on Market decreased 21.9% to 57
• Percent of Original List Price Received increased 1.1% to 99.1

Leave a Reply