It’s only August, but this time during summer usually means making plans for changes ahead, especially the start of a new school year. For potential home buyers with school-aged children, these are the pivotal days for deciding whether or not to purchase or wait. With inventory as low as it is, we are in a place where big moves will be made or saved for later, and sales figures will reflect as much.

In the Twin Cities region, for the week ending July 30:
• New Listings increased 3.3% to 1,723
• Pending Sales decreased 4.6% to 1,289
• Inventory decreased 18.0% to 14,588

For the month of July:
• Median Sales Price increased 6.6% to $239,900
• Days on Market decreased 15.9% to 53
• Percent of Original List Price Received increased 0.8% to 98.4%
• Months Supply of Homes For Sale decreased 23.7% to 2.9

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