Higher home prices and declining months’ supply confirm that it continues to be an excellent time to sell as we start to shift into the heart of the sales season. While construction is expected to pick up and both first-time and move-up buyers are eager to bid for the perfect home, we still need to find a solution for the ongoing problem of low inventory.

In the Twin Cities region, for the week ending April 16:
• New Listings decreased 5.0% to 1,957
• Pending Sales increased 5.9% to 1,506
• Inventory decreased 19.1% to 12,592

For the month of March:
• Median Sales Price increased 5.7% to $222,000
• Days on Market decreased 17.5% to 85
• Percent of Original List Price Received increased 0.9% to 96.8%
• Months Supply of Homes For Sale decreased 28.6% to 2.5