Sales and new listings are up and the spring market is flourishing. An increase in inventory is the desire of the buyer pool at this point in the season, as more properties for sale should nudge first-time home buyers to sow their fledgling seeds in the housing market and encourage move-up buyers to say goodbye to their homes in favor of an upsized plot across town.
In the Twin Cities region, for the week ending April 12:
• New Listings increased 19.9% to 1,925
• Pending Sales increased 1.8% to 1,157
• Inventory decreased 2.4% to 13,736
For the month of March:
• Median Sales Price increased 7.6% to $190,000
• Days on Market decreased 11.1% to 96
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1
