Twin Cities Market Update – July 28, 2017

The primary selling season tends to begin a subtle slowdown at this point in the year. That does not necessarily equate to less competition for available housing stock. While total sales and inventory may be lower than at points earlier in the year, those still looking for homes tend to match up with those willing to list. Call it a back-to-school effect or call it an active and healthy residential real estate market no matter the season.

In the Twin Cities region, for the week ending July 15:
• New Listings increased 2.2% to 1,936
• Pending Sales decreased 3.9% to 1,371
• Inventory decreased 17.7% to 12,362

For the month of June:
• Median Sales Price increased 7.0% to $259,000
• Days on Market decreased 16.1% to 47
• Percent of Original List Price Received increased 0.8% to 99.5%
• Months Supply of Homes For Sale decreased 16.7% to 2.5

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