Do you hear that? It’s the sound of carts shifting through the back-to-school aisles, filling quickly with notebooks and pencils and glue. It’s the sound of teenagers shuffling through dorms and down storied lanes on their first college orientation. It’s the sound of young professionals readying themselves for their first big job, freshly shorn and tailored. It’s the sound of a family preparing for the leap from the overcrowded apartment to the “starter” home that will see their first into high school. The end of summer sure can seem an awful lot like spring. Let’s see if the housing market says the same.
In the Twin Cities region, for the week ending August 11:
• New Listings increased 2.0% to 1,387 • Pending Sales increased 31.2% to 1,149 • Inventory decreased 29.6% to 16,982
For the month of July:
• Median Sales Price increased 13.7% to $179,000 • Days on Market decreased 27.8% to 106 • Percent of Original List Price Received increased 3.6% to 95.0% • Months Supply of Inventory decreased 42.8% to 4.3
Local Market Updates:
St. Paul Condos:
South Minneapolis Homes (near the lakes):