Twin Cities Market Update – September 22, 2017

For several years, residential real estate markets across the country were relatively similar except for a few pockets of extreme price increases in the west and a few areas of slower post-recession recovery in the east. Regional market diversion is becoming more common. Natural disasters play a part, as do factors such as the proclivities and incomes of a younger buyer pool.

In the Twin Cities region, for the week ending September 9:
• New Listings decreased 3.1% to 1,690
• Pending Sales increased 2.7% to 1,036
• Inventory decreased 16.5% to 12,587

For the month of August:
• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Homes For Sale decreased 16.7% to 2.5

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