Inventory levels dropped 10.8 percent from last year, but there are still 23,265 homes on the market for buyers to choose from in the Twin Cities’ metro area. Inventory overall has slowly been creeping up. Average days on the market for homes is about 152 getting about 90% of original list price; so far, our historical rate to date has been about 86 days on the market.There are currently less than 6 houses per buyer – much better than in November 2010, when there was about 11 houses per buyer. However, there is more than 8 months’ supply of homes on the market. More information on the current market: The Skinny.
St. Louis Park Home Market Update (near Lenox Park): There are 61 active homes on the market today. There were 4 new listings this past seven days. There were 8 pending homes and 6 sold home this past week.
Edina Condo Market Update: There are 141 active condos on the market in Edina today. There were 5 new listings, 2 pending homes and 1 sold this past week.
Maple Grove Housing Market Update (near Rice Lake): There are 29 active homes on the market today. There were 3 new listings, 1 pending home and no sold homes this past week yet again.
St. Louis Park Condo & Townhouse Market Update: There are 129 active condos and townhomes on the market today. There were 6 new listings, 6 pending homes, and 3 sold.
That’s all for today, friends!