Twin Cities Market Update – March 23, 2018

There is not much new to report this week compared to last week or the week before, but that is more good news than bad news at this juncture of the year. It’s true that more homes listed for sale would be welcome for a housing market ready for an influx of options. At the same time, there is ample evidence of buyers making the most of what is present on the market now. Contracts are being signed, and the prices being paid continue to prove demand.

In the Twin Cities region, for the week ending March 10:
• New Listings decreased 20.3% to 1,419
• Pending Sales decreased 9.5% to 1,069
• Inventory decreased 21.7% to 8,006

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 21.1% to 1.5

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